Cold weather pushes up Kogas’ domestic sales in January

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.

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