South Korea’s Kogas reports rise in April sales

South Korea’s Kogas, the world’s second-largest corporate buyer of LNG, reported a 28.6 percent increase in its domestic gas sales in April.

The company said in its report that the April natural gas sales volumes reached 2.74 million tons of LNG equivalent, compared to the 2.13 million tons of LNG equivalent in the corresponding month last year.

LNG sales in the power generation sector soared 68 percent year on year reaching 1.35 million tons during the month under review from 823,000 tons last year. The rise was attributed to the increase in gas-fired power plants utilization during the month.

The company noted in its report that sales in the power generation sector have shown an upward trend for the fifth consecutive month since December 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