SK Gas

What SK Gas does

SK Gas is a publicly listed (KOSPI: 018670) South Korean energy company headquartered in Seongnam and operating primarily in the LPG value chain since its 1985 founding. It holds a 40%+ share of the domestic LPG market, supplying propane and butane to roughly 4.18 million households, industrial users, and commercial fleets through a network of 500+ charging stations and two major storage bases at Ulsan (270,000-ton capacity) and Pyeongtaek (200,000-ton capacity), complemented by global LPG trading subsidiaries SK Gas International (Singapore) and SK Gas USA (Houston) and a fleet of 6 VLGC vessels. Pricing is linked to Saudi Aramco contract benchmarks, and the company is approximately 67.2%-owned by parent SK Discovery within the broader SK Group.

Beyond LPG trading, SK Gas has built a vertically integrated, multi-energy platform: gas chemistry via the SK Advanced JV (Saudi APC and Kuwait PIC) operating an 843,000-ton propylene and 800,000-ton polypropylene complex; LNG infrastructure through the KET LNG terminal (JV with Korea Petroleum Corporation, commercial November 2024); power generation through the world's first 1.2GW LNG-LPG dual-fuel combined-cycle plant at Ulsan GPS (commercial December 2024); hydrogen fuel cell power via the Lotte SK Enerroute JV (with Lotte Chemical and Air Liquide Korea, building to 80MW); the G.Hub tank terminal in Ulsan with 490,000-kiloliter storage capacity; and a 9.8MW solar facility at Dangjin. FY2025 consolidated revenue was KRW 7.68 trillion (~8.2% growth YoY) with KRW 233.8 billion in net profit; the Ulsan GPS asset was partially monetized in June 2026 via a 49% stake sale to Stickhan Investment Corporation for approximately KRW 1.2242 trillion.

The company's go-to-market is sales-led, with headquarters and four regional branches (Seoul/Central, Busan/Eastern, Gwangju/Western, Jeju) handling B2B enterprise customers in petrochemicals, power generation, and industrial users, alongside direct retail distribution through the charging station network. SK Gas has developed proprietary technology assets including the LNG-LPG dual-fuel power architecture, the AI-based PDH yield prediction system (with patents filed in 6 jurisdictions), and an AI energy-efficiency service in partnership with Metron SAS. Major enterprise customers span Korea Western Power, Hyundai Glovis, Hyundai Motor, Renault Korea, Namyang Dairy, and Korea Post, with international trading counterparties across Saudi Arabia, Kuwait, the UAE, Qatar, Japan, China, India, Singapore, and the United States.

Name

SK Gas

Legal name

에스케이가스 주식회사

Website

https://skgas.co.kr

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SK Gas is South Korea's leading LPG distributor (40%+ market share, 500+ charging stations) and a diversified clean-energy platform spanning gas chemistry (PDH/PP), LNG terminals, a 1.2GW dual-fuel power plant, hydrogen fuel cells, and tank terminal services. Listed on KOSPI (018670), FY2025 revenue reached KRW 7.68 trillion.

Ownership category

akta.pro rank

Product category

LPG and Petrochemical Energy

NAICS

Fuel Dealers (45721), Fuel Dealers (457210), Fuel Dealers (4572), Natural Gas Distribution (22121)

SIC

Natural Gas Distribution (4924), Wholesale-Petroleum Bulk Stations & Terminals (5171), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

LPG / Propane-Butane Products Pipeline Transportation (TLAGABAH)

akta.pro secondary industries

LPG / NGL Terminals (Pressurized/ Refrigerated Gas) (TLAHABAK), Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB), Industrial CNG/LNG Supply & Distribution (Virtual Pipelines, Trucking, Satellite Storage) (EUALALAA), Propane Pipeline Transportation (TLAGAEAD)

Keywords

• LPG distribution services
• Gas chemical manufacturing
• LNG power generation
• Hydrogen fuel cells
• Petrochemical products

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. LPG Trading & Marketing: Domestic LPG import, trading, and distribution through nationwide network of charging stations. Includes propane and butane for residential, commercial, industrial, and transportation use. Global LPG trading through Singapore and Houston offices.
2. Gas Chemistry (PDH/PP): Propane dehydrogenation (PDH) and polypropylene (PP) production through SK Advanced joint venture with Saudi APC and Kuwait PIC. Vertical integration from propane to propylene to polypropylene.
3. LNG & Power Generation: LNG terminal operations through KET (Korea Energy Terminal) JV with Korea Petroleum Corporation, and power generation through Ulsan GPS (LNG-LPG dual fuel, 1.2GW capacity)
4. Hydrogen Fuel Cell Power: Hydrogen fuel cell power generation through Lotte SK Enerroute JV (with Lotte Chemical and Air Liquide Korea), utilizing by-product hydrogen from industrial processes
5. Tank Terminal Services: Storage services for industrial liquids (UCO, lubricants) at G.Hub facility in Ulsan with 490,000 kiloliters capacity

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

SK Gas is Korea's leading LPG (Liquefied Petroleum Gas) supplier, distributing propane and butane through a nationwide network of 500+ charging stations for residential, commercial, industrial, and transportation customers. The company has vertically integrated into gas chemistry (PDH/PP), LNG terminal operations, 1.2GW LNG-LPG dual fuel power generation, and hydrogen fuel cell power production.

Product overview

SK Gas is Korea's leading LPG (Liquefied Petroleum Gas) company that has expanded into a diversified energy platform. The company's product portfolio includes: (1) LPG business - the core product distributed nationwide through ~500+ charging stations; (2) Gas chemical vertical integration through PDH (Propane De-Hydrogenation) and PP (Polypropylene) production facilities in Ulsan; (3) LNG infrastructure including Korea Energy Terminal (KET) import terminal and Ulsan GPS 1.2GW combined cycle power plant; (4) Hydrogen fuel cell power generation via Lotte SK Enerroute JV; (5) Solar power generation at Dangjin; (6) Energy efficiency services for industrial customers. The company operates primarily in Korea with global LPG trading operations through subsidiaries in Singapore and Houston.

Differentiator

Problem solved

Functional benefit

Brands

• 행복충전멤버십 (Happiness Charging Membership): LPG customer loyalty and membership program offering points and discounts
• Wego Platform
• 행복1톤 (Happiness 1-ton)
• Eco Marine Fuel Solutions (에코마린퓨얼솔루션)

Products and services

• LPG (Liquefied Petroleum Gas) SK Gas's primary product - LPG (propane and butane) supplied for residential, commercial, industrial, and transportation use. Korea's No.1 LPG player with 40%+ domestic market share and nationwide distribution network serving 4.18 million households.
• PDH (Propane De-Hydrogenation) / Propylene PDH facility in Ulsan producing propylene from propane, part of SK Gas's gas chemical vertical integration strategy. Operated through joint venture SK Advanced with partners APC and PIC.
• Polypropylene (PP) Polypropylene production facility downstream of PDH, creating vertical integration from propane to propylene to polypropylene. Located in Ulsan with port hinterland access.
• Korea Energy Terminal (KET) - LNG Terminal LNG import terminal joint venture with Korea Petroleum Corporation in Ulsan. Commercial operations started November 2024, providing midstream storage capacity in the LNG value chain to partners including SK Energy and S-OIL.
• Ulsan GPS (LNG-LPG Power Generation) World's first 1.2GW LNG-LPG dual fuel combined cycle power plant in Ulsan. Commercial operations started December 2024, supplying electricity to approximately 2.8 million households annually with flexible fuel switching capability.
• Hydrogen Fuel Cell Power Generation Hydrogen fuel cell power generation through joint venture Lotte SK Enerroute (with Lotte Chemical and Air Liquide Korea). Currently operating multiple hydrogen power plants in Ulsan with combined capacity target of 80MW.
• G.Hub Tank Terminal Tank terminal business storing UCO (Used Cooking Oil) and lubricating oils. Located in Ulsan Mipo National Industrial Complex with 490,000 kiloliter capacity and 59 tank facilities for industrial liquids storage services.
• Solar Power Generation (Dangjin Ecopower) Solar power facility with 9.8MW capacity and 24.5MWh battery storage. Commercial operations started July 2020, producing approximately 13,000 MWh annually.
• Energy Efficiency Service AI-powered energy optimization solution for industrial customers developed in partnership with Metron SAS. Real-time energy monitoring and optimization recommendations based on factory data analysis.
• LNG Bunkering LNG ship fuel supply service through subsidiary Eco Marine Fuel Solutions. Partnership with Hyundai Glovis for supplying LNG to vehicle carriers at Korean ports including Ulsan, Busan, and Gwangyang.

Quantifiable outcome

• Carbon emissions reduction up to 90% for industrial customers through fuel conversion from B-C oil to LPG
• +3 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Scale indicators17 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• E1 Corporation: E1 is one of South Korea's largest LPG importers and distributors, directly competing with SK Gas in domestic LPG supply, charging station networks, and industrial/transportation customers. Closest peer for the core LPG distribution business.
• Lotte Chemical: JV partner in Lotte SK Enerroute (hydrogen) and major Korean PDH/PP competitor; directly comparable on propylene/polypropylene production and adjacent on hydrogen fuel cell development.
• Air Liquide: JV partner in Lotte SK Enerroute and a global industrial gas / hydrogen leader; directly comparable on hydrogen production, distribution, and fuel cell power generation technology.

Broad incumbents

• SK Energy: Sister SK Group company operating Korea's largest oil refinery and a broad fuel/charging network; competes with SK Gas in transportation fuels and shares overlapping customers in petrochemical and industrial segments.
• GS Energy: Korean energy major with power generation and energy infrastructure, comparable to SK Gas's Ulsan GPS and hydrogen ambitions as a broad incumbent in Korea's gas-to-power value chain.
• Korea Gas Corporation (KOGAS): State-owned natural gas monopoly operating LNG import terminals and the city gas distribution network; overlaps with SK Gas's KET LNG terminal and competes as a broad incumbent in Korean gas logistics and distribution.
• S-OIL: Large Korean refiner and petrochemical producer with Ulsan complex operations; comparable as a co-located broad incumbent in LPG feedstock supply, refining, and petrochemical value chains.
• Hyundai Oilbank: Korean refiner and fuel retailer with a nationwide charging station footprint; comparable on downstream fuel distribution, LPG-blend products, and transportation market dynamics.
• Air Products and Chemicals: Global industrial gas and hydrogen incumbent with hydrogen fueling infrastructure; comparable to SK Gas on hydrogen economy investments and a broad incumbent in industrial gas supply.

Regional players

• Iwatani Corporation: Japan's largest LPG distributor and a leading industrial gas/hydrogen player; closely comparable business model in LPG import, distribution, and hydrogen energy, though primarily serving Japan rather than Korea.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@skgas_official
• Instagraminstagram.com/skgas_official
• LinkedInlinkedin.com/company/s-k-gas-corp

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SK Gas