South Korea’s Kogas posts decline in Aug sales

South Korea’s Kogas, the world’s second-largest corporate buyer of LNG, reported an 11.8 percent decrease in its domestic natural gas sales in August.

Kogas said in a filing to the stock exchange on Friday it sold 1.94 million mt of LNG equivalent last month, as compared to 2.19 million mt in August 2016.

Sales in the power generation sector dropped 21.2 percent to 1.09 million mt while city gas sales reached 0.84 million mt, up by 4.3 percent on year, the filing shows.

Kogas operates in total 74 LNG storage tanks in South Korea and overseas. It imports about 96 percent of Korea’s LNG demand via its four terminals, namely Incheon, Pyeongtaek, Tongyeong and Samcheok.

LNG World News Staff