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.

Most Popular

Mercuria inks long-term LNG supply deal with China’s Guangzhou Gas

Switzerland-based energy trader Mercuria has signed a long-term LNG sales and purchase agreement with China's Guangzhou Gas, a unit of Guangzhou Development Group.

ConocoPhillips seals Chinese LNG supply deal

US energy giant ConocoPhillips has signed a long-term LNG supply deal with China's Guangdong Pearl River Investment Management Group.

QatarEnergy eyes major LNG trading expansion

State-owned LNG giant QatarEnergy aims to increase trading of non-Qatari physical LNG volumes to 30 to 40 million tons by 2030, according to Qatar’s energy minister and chief executive of QatarEneergy, Saad Sherida Al-Kaabi.

More News Like This

South Korea’s Kogas boosts April sales

South Korean LNG importing giant Kogas said its gas sales rose by 13.9 percent in April compared to last year.

South Korea’s Komipo, partners launch tender for one spot LNG cargo

Korea Midland Power (Komipo), Korea Southern Power (Kospo), and a unit of SK released a tender inviting firms to submit bids for one spot LNG shipment for delivery in June.

South Korea’s Kogas reports lower sales

South Korean LNG importing giant Kogas said its gas sales dropped by 3.8 percent in March compared to last year. South Korean LNG imports rose last month year-on-year.

South Korea’s Kogas boosts sales in February

South Korean LNG importing giant Kogas said its gas sales rose 20.4 percent in February compared to the same month last year.