The Nigerian National Petroleum Company Limited (NNPC Ltd.) has launched the shipment of Liquefied Natural Gas (LNG) to Japan and China on a Delivered Ex-Ship (DES) basis, marking a significant step in the company’s strategic vision to become a reliable global energy supplier. This new approach, as highlighted by NNPC’s Executive President of Downstream, Segun Dapo, allows the company to penetrate the downstream segment of the LNG sector more effectively, offering greater financial returns compared to the traditional Free on Board (FOB) system.
The first DES LNG cargo was successfully delivered to Futtsu, Japan, on June 27, 2024, using the 174,000m³ LNG vessel Grazyna Gesicka. Since then, NNPC Ltd. has expanded its operations to China, with additional shipments expected to the Asian market by November.
This development, achieved in collaboration with NNPC subsidiaries NNPC LNG Ltd. and NNPC Shipping Ltd., has not only bolstered NNPC’s market share but also enhanced its reputation as a world-class shipping provider in the LNG industry.
The company plans to continue building its shipping portfolio and expects further orders before the end of the year, strengthening its position in the global energy market.
Credit: NAN (Text Excluding Headline)
