Nigeria’s NNPC Expands Global LNG Market Reach To Japan, China.

By Helen Udo,Outlook Media ABUJA.

By Dominic Dominic, Outlook Media ABUJA.

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has made a significant stride in expanding its global market footprint by commencing Liquefied Natural Gas (LNG) shipments to Japan and China on a Delivered Ex-Ship (DES) basis.

This achievement marks a milestone in NNPC Ltd.’s strategic vision to become a dynamic and reliable global energy supplier of choice. The company’s Downstream subsidiaries, NNPC LNG Ltd. and NNPC Shipping Ltd., collaborated to deliver the first DES LNG cargo to Japan on June 27, 2024, and has since expanded to China.

A statement signed by Olufemi Soneye, the Chief Corporate Communications Officer of the NNPC Limited says the DES system requires the seller to deliver products to a specific port, taking responsibility for shipping and insurance until arrival. This approach demands expertise and efficiency, offering more financial rewards and downstream segment inroads.

NNPC Ltd. has been involved in LNG trading since 2021, trading over 20 cargoes into European and Asian markets on a Free on Board (FOB) basis. The company aims to deliver at least two more LNG cargoes to Asia on DES basis by November, with more orders expected by year-end.

This development positions NNPC Ltd. to capture more market shares, build in-house capacity, and familiarize global customers with its brand.

The collaboration between NNPC LNG Ltd. and NNPC Shipping Ltd. has strengthened the latter’s position as a world-class shipping provider in the LNG sector.