South Korean LNG importing giant Kogas reported lower gas sales in November when compared to the same month a year ago.
Kogas sold 3.20 million mt last month, a drop of 4.7 percent when compared to November last year, according to a stock exchange filing.
November sales rose by 23.3 percent when compared to the previous month’s 2.60 million mt.
Purchases by power firms rose by 6.4 percent year-on-year to 1.61 million mt in November. These purchases rose by 17.2 percent when compared to the previous month.
Moreover, Kogas said its sales to retail gas companies for households and businesses decreased by 13.9 percent year-on-year to 1.59 million mt while they rose by 30.2 percent when compared to the month before.
South Korean LNG imports dropped slightly from 38.2 million tons in the January-October period last year to about 38.1 million tons of LNG in the same period this year as prices surged, according to customs data. November 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.