[Click eStock] "SK Gas Starts Commercial Operation of Ulsan GPS"

On the 22nd, NH Investment & Securities forecasted that SK Gas would diversify its revenue streams beyond the LPG business with the commencement of commercial operations at the Ulsan GPS (gas combined power plant) and North American ESS.

Lee Min-jae, a researcher at NH Investment & Securities, stated, "Next year, with the full operation of the LNG value chain including Ulsan GPS and KET Terminal, related profits are estimated to be around 200 billion KRW. If it is decided to distribute more than 25% of the consolidated controlling shareholder net profit as dividends, the dividend yield based on the current stock price would be 5.0%."

He added, "In January, SK Gas and SK Eteonics established a joint venture with their US partner Apex. The joint venture will install a 200MWh ESS in the Texas region of the United States and begin commercial operations from the end of this year."

The researcher emphasized, "It is estimated that the company achieved sales of 1.8 trillion KRW and a pre-tax profit of 66.8 billion KRW in the third quarter of this year, exceeding market expectations."

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