South Korean LNG importer Kogas reported a rise in its June gas sales on the back of higher demand in the power generation sector.
Kogas sold 2.48 million mt last month, a rise of 8.3 percent when compared to about 2.29 million mt in June last year, according to a stock exchange filing.
June sales decreased by 1.5 percent when compared to the previous month’s 2.52 million mt.
Purchases by power firms rose by 11.1 percent year-on-year to 1.47 million mt in June. These purchases increased by 5.1 percent when compared to the previous month.
Moreover, Kogas said its sales to retail gas companies for households and businesses rose by 4.4 percent year-on-year to 1.01 million mt, while these purchases dropped by 9.9 percent compared to the month before.
Kogas currently operates four large LNG terminals. These include Incheon, Pyeongtaek, Tongyeong, and Samcheok, but the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.
On top of these facilities, the LNG importer is building a large terminal in Dangjin.
Kogas imports LNG from plants located around the globe. It recently signed a deal with France’s TotalEnergies to boost LNG trading and optimization as well.
In parallel with LNG, the firm is developing its hydrogen business. It aims to utilize its LNG infrastructure and knowledge gained in the LNG industry over the years to develop a hydrogen production and supply chain.
