South Korea’s Kogas posts decline in June domestic sales

Image courtesy of Kogas

South Korea’s Kogas, the world’s second-largest corporate buyer of LNG, reported a 1.6 percent decrease in its natural gas sales in June year-on-year.

Kogas said in a filing to the stock exchange on Tuesday it sold 1.93 million mt of LNG equivalent last month, as compared to 1.96 million mt in June 2016.

Sales in the power generation sector dropped 4 percent to 1.04 million mt while city gas sales reached 0.9 million mt, up 1.4 percent on year, the filling shows.

To remind, Kogas in June started commercial operations of three LNG storage tanks at its Samcheok terminal located some 290 kilometers east of Seoul.

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

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