State-owned Kogas sold 2.39 million mt last month, compared to 2.27 million mt in May 2024, the firm said in a stock exchange filing.
May sales were lower compared to the previous month’s 2.62 million mt, which marked a rise of 13.9 percent on the year.
Purchases by power firms rose 8.8 percent year-on-year to 1.26 million mt in May, and were higher by 1.8 percent compared to the previous month.
Moreover, Kogas said its city gas sales rose 1.1 percent year-on-year to 1.13 million mt in May. City gas sales were lower 18.4 percent from the previous month.
Kogas previously said in its quarterly report that it had sold 11.87 million mt in the first quarter of this year.
This is up by 4.1 percent compared to the same quarter last year.
Kogas said its city gas sales rose by 4.7 percent as demand for civil use increased due to a significant drop in temperature in February compared to previous years.
The firm also said that demand for industrial and fuel cell use increased.
According to Kogas, power firm purchases increased 3 percent as power generation increased following the start of commercial operation of new power units.
Korean LNG imports down
Kogas operates 77 LNG storage tanks at five LNG import terminals in South Korea.
The large terminals include Incheon, Pyeongtaek, Tongyeong, and Samcheok, while the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.
In addition to these facilities, the firm is building a large terminal in the western port city of Dangjin.
Kogas expects to complete the first phase of the Dangjin LNG terminal in May 2027 and the second phase in October 2028.
Official statistics for South Korean LNG imports in May are not yet available.
According to customs data, South Korean LNG terminals took 4.04 million mt in April this year, a drop from 4.16 million mt in April 2024.
During January-April, South Korean LNG terminals received 16.03 million mt of LNG, a drop compared to 16.79 million mt in 2024.
Australia was the biggest supplier to South Korea during the four-month period, with 5.05 million mt of LNG, followed by Malaysia with 2.66 million mt, and Qatar with 2.59 million mt, the data shows.
