South Korea’s Kogas October LNG sales jump

South Korean state-owned Korea Gas reported a year-on-year jump of 37.9 percent in liquefied natural gas (LNG) sales during the month of October.

The company sold 2.59 million tons of the chilled fuel which compares to the 1.87 million ton in the corresponding month in 2017.

It is the 11th consecutive month that Kogas’ LNG sales have been rising and was the largest YoY jump since the 49.8 percent rise in April last year.

Compared to the previous month, October LNG sales jumped 40.76 percent.

Of the total sales in October, LNG sales to the power generation sector rose 52 percent to 1.22 million tons.

City gas sales reached 1.36 million tons in the month under review, 27.4 percent above the corresponding month in 2017.

Kogas operates in total 72 LNG storage tanks in South Korea. It imports about 96 percent of Korea’s LNG demand via its four terminals, namely Incheon, Pyeongtaek, Tongyeong and Samcheok.

LNG World News Staff