South Korea’s liquefied petroleum gas (LPG) distributer SK Gas aims to sell 4.4 million tons of LPG in the domestic market next year, up from this year’s estimation of 4.2 million tons.
The company announced in a disclosure Wednesday that it has set a goal to raise its domestic LPG sale by 19 percent from this year to 5 million tons in 2025 to achieve 400 billion won ($339 million) in pre-tax profit. Its sale for this year is estimated at 4.2 million tons.
It also said the LPG business would continue to remain competitive thanks to the improvement in price competitiveness and increase in demand as a raw material for petrochemical products. It expects the demand for transportation fuel would go up further on the back of eased regulation for LPG market and releases of new cars powered by the fuel.
SK Gas plant in Ulsan. [Photo by SK Gas]
The company expects its power generation business would begin to make profits starting 2021 at its coal-fired power plant in Goseong and combined cycle power plant in Ulsan. It will also enter the liquefied natural gas (LNG) business after acquiring a stake in Korea Energy Terminal.
SK Gas also plans to aggressively look for overseas business opportunities based on its business model for the domestic market.
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