State-owned Kogas sold 2.27 million mt last month, compared to 2.13 million mt in October 2024, the firm said in a stock exchange filing.
October sales were 18.2 percent higher compared to the previous month’s 1.92 million mt, which marked a drop of 10.1 percent on the year.
Purchases by power firms increased 12 percent year-on-year to 1.18 million mt in October, and were higher by 17.5 percent compared to the previous month.
Moreover, Kogas said its city gas sales rose 0.4 percent year-on-year to 1.08 million mt in October. City gas sales were 19.1 percent higher compared to the previous month.
Kogas said in its quarterly report this week that it had sold 25.35 million mt in the first nine months of this year, almost flat compared to the previous year.
The company sold 18.89 million mt in the first half of this year, up by 3.7 percent compared to the same period last year.
Kogas said its city gas sales rose by 3.9 percent as demand for civil use increased due to a sharp drop in temperature in February and April compared to previous years.
The firm also said that demand for industrial and fuel cell use increased, leading higher sales volume.
According to Kogas, power firm purchases decreased 4.2 percent due to economic downturn and a reduction in peak power generation following an increase in base-load generation.
Korean LNG imports
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 December 2029, according to its quarterly report.
The company previously expected to complete the second phase in October 2028.
Official statistics for South Korean LNG imports in October are not yet available.
According to customs data, South Korean LNG terminals received 35.12 million mt of LNG during the first nine months of this year, a rise compared to 33.62 million mt in 2024.
Australia was the biggest supplier to South Korea during the period, with 11.11 million mt of LNG, followed by Qatar with 5.39 million mt, and Malaysia with 5.27 million mt, the data shows.
