South Korean LNG importing giant Kogas boosted its gas sales in January as power demand increased due to cold weather.
Kogas said in a filling to the stock exchange this week it sold 4.95 million mt last month, a rise of 20.1 percent compared with 4.11 million mt a year earlier.
In addition, January sales also increased 9.1 percent when compared to the previous month’s sales of 4.53 million mt, the state-owned firm, which has a monopoly in domestic gas sales, said.
Purchases by power firms rose 16.2% year-on-year to 1.87 million mt, but they also logged a 3.9 percent increase when compared to December.
Moreover, Kogas said its sales to retail gas companies for households and businesses also increased 22.6% year-on-year to 3.07 million mt, while they rose 3.9% compared to the month before.
In the January-December period, Kogas sold about 32.3 million mt, down some 3.7% when compared to 2019.
Kogas currently operates four large-scale LNG terminals, namely Incheon, Pyeong-Taek, Tong-Yeong, and Samcheok, but the firm also has a small-scale regasification terminal at the Aewol port on Jeju island.
The LNG importer is also planning a large terminal in Dangjin.