“Nigerian Petroleum Company NNPCL Announces LNG Cargo Shipments to Japan and China”
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the commencement of Liquefied Natural Gas (LNG) shipments to Japan and China on a Delivered Ex-Ship (DES) basis. Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., confirmed in a statement on Monday that this achievement was made possible through the collaboration between two of its subsidiaries, NNPC LNG Ltd. and NNPC Shipping Ltd.
The first DES LNG cargo was delivered from the 174,000m³ LNG vessel, Grazyna Gesicka, to Futtsu, Japan, on June 27, 2024. NNPC LNG Ltd. and NNPC Shipping Ltd. are also scheduled to deliver at least two more LNG cargoes to the Asian market by November, with additional orders expected before the end of the year.
The statement emphasized NNPC Ltd.’s strategic vision to become a dynamic and reliable global energy supplier. Since its initial LNG shipment in 2021, the company has traded over 20 cargoes to European and Asian markets, primarily on a Free on Board (FOB) basis. The shift to DES delivery marks a significant milestone, requiring greater expertise and efficiency.
Dapo Segun, Executive Vice President, Downstream, highlighted that the DES system is not only more financially rewarding but also enhances NNPC Ltd.’s position in the downstream LNG sector. It allows the company to capture more market share, build in-house capacity, and increase global brand recognition.
Panos Gliatis, Managing Director of NNPC Shipping, further emphasized the importance of this collaboration, noting that it strengthens NNPC Shipping Ltd.’s position as a world-class provider in the LNG sector. He also outlined plans to build a comprehensive shipping portfolio to offer greater flexibility to both NNPC Ltd. and its clients.
