South Korea domestic natural gas price will be increased by 4.4%, the average daily (Friday) of natural gas, to reflect the higher cost and the back part of the huge losses of state-run Korea gas company (KOGAS), ministry of economic affairs said on Wednesday.
For the first time since June last year raised interest rates, improve, and is expected to average annual consumer price index 0.08%, city gas accounted for 1.96%, consumer price index department official said.
Asia's fourth largest economy, it relies on imports of oil and natural gas, and has been trying to contain inflation leads to high energy prices, improve the natural gas prices since last June raise interest rates, an average of 4.9%, stop KOGAS.
"The past price freeze South Korea gas gathering and ZhaiWuLv increase, the price of natural gas to reflect the cost of imports," the ministry said in a statement.
At the end of 2012, KOGAS YuDingLiang of receivables, or low pricing below cost caused by the loss, cumulative to 550 trillion won ($5.08 billion) from a year ago, 4.4 trillion, according to the statement.
The debt to equity ratio also rose to 397%, from 348% for the same period last year, 2011, the ministry added.
KOGAS is the world's largest enterprise purchase of liquefied natural gas (LNG), South Korea wholesale natural gas market has 95% of the market share.
 



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