South Korea’s Kogas says July sales jump

South Korean LNG importing giant Kogas reported a 43.6 percent rise in its July gas sales on the back of higher demand for power generation.

Kogas said in a filing to the stock exchange it sold 2.57 million mt last month. This compares to 1.79 million mt Kogas had sold in July last year.

July sales also rose 12.3 percent when compared to the previous month’s 2.29 million mt, the state-owned firm, which has a monopoly in domestic gas sales, said.

Moreover, purchases by power firms surged 78.6 percent year-on-year to 1.62 million mt in July. These purchases also rose by 22.7 percent when compared to the previous month.

Kogas said its sales to retail gas companies for households and businesses increased 7.7 percent year-on-year to 954,000 mt, while they decreased 1.9 percent compared to the month before.

The firm currently operates four large-scale LNG terminals, namely Incheon, Pyeong-Taek, Tong-Yeong, and Samcheok, as well as a small-scale regasification terminal at the Aewol port on Jeju island.

The LNG importer plans to build a large terminal in Dangjin as well. South Korea’s Doosan Heavy Industries & Construction recently revealed it had won a contract from Kogas to build storage tanks at the Dangjin facility.

Under the contract, a consortium led by Doosan will build four LNG storage tanks with a capacity of 270,000 kiloliters, each.

Most Popular

Germany’s DET offers short-term regas capacity at two LNG terminals

DET announced on Thursday the marketing of short-term regasification capacities at its FSRU-based LNG terminals in Brunsbüttel and Wilhelmshaven...

Swan Energy, Nebula’s AG&P LNG plan Indian JV

Swan Energy said on Friday it had signed a heads of agreement with AG&P Terminals &Logistics (Singapore). The two firms...

France was top destination for US LNG supplies in October

The DOE report shows that US terminals shipped 43.1 Bcf to France (11.5 percent), 30 to Bcf Japan (8...

More News Like This

Kogas logs lower sales in November

State-owned Kogas sold 2.67 million mt last month, down 13.9 percent from 3.10 million mt in November 2023, the firm said in...

SK Shipping sells four LNG carriers for scrap

Brokers said the vessels are the 1999-built SK Summit and the 2000-built SK Supreme, SK Splendor, and SK Stellar. The...

Kogas reports lower sales in October

State-owned Kogas sold 2.13 million mt last month, down 5.2 percent from 2.25 million mt in September 2023, the firm said in...

KOSPO seeks one spot LNG cargo

KOSPO is seeking up to 3.6 trillion British thermal units (TBtu) of LNG on a delivered ex-ship (DES) basis. Moreover,...