South Korea’s Kogas reports steep LNG sales drop in June

South Korean state-owned Korea Gas reported the largest drop in LNG sales since October 2017 in its latest monthly update.

The company’s LNG sales reached 1.91 million tons in June, 14 percent below the 2.22 million tons reported in the corresponding month last year.

Compared to the previous month when Kogas sold 2.15 million tons, the sales dropped 11 percent, the report shows.

Of the total sales in June, LNG sales to the power generation sector reached 0.93 million tons, dropping 8.9 percent from the previous month and 24.7 percent compared to the 1.23 million tons sold in June 2018.

City gas sales reached 0.98 million tons in the month under review, 0.8 percent below the corresponding month in 2018 and 12.9 percent down from the previous month.

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