South Korean LNG importing giant Kogas reported slightly lower gas sales in January when compared to the same month a year ago.
Kogas sold 4.63 million mt last month, a drop of 0.7 percent when compared to 4.66 million mt in January last year, according to a stock exchange filing.
January sales dropped by 7.5 percent when compared to the previous month’s 5.01 million mt.
Purchases by power firms rose by 5.8 percent year-on-year to 1.78 million mt in January. These purchases dropped by 12.5 percent when compared to the previous month.
Moreover, Kogas said its city gas sales decreased by 4.5 percent year-on-year to 2.85 million mt while they also dropped by 4.2 percent when compared to the month before.
South Korean LNG imports rose slightly from 45.9 million tons in 2021 to about 46.3 million tons of LNG in 2022 as prices surged, according to customs data. January data has not yet been released.
Kogas imports LNG from plants located around the globe and currently operates four large LNG terminals in South Korea.
These include Incheon, Pyeongtaek, Tongyeong, and Samcheok. The firm has a small-scale regasification terminal at the Aewol port on Jeju island as well and is building a large terminal in Dangjin.
Kogas recently received the 5000th cargo at its Pyeongtaek LNG import terminal since 1986.
