The Nigerian National Petroleum Company Limited (NNPC Ltd.) has commenced the shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis, marking a significant milestone in its global energy strategy.
This development was confirmed by Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, quoting Segun Dapo, Executive President of Downstream at NNPC Ltd.
The DES system, which involves delivering goods to a specific port with the seller responsible for shipping and insurance, represents a more financially beneficial approach for NNPC Ltd. and allows the company to enter the downstream LNG sector. NNPC has been trading LNG since 2021, and this latest initiative strengthens its market presence, especially in Asia.
The first DES LNG cargo was delivered to Futtsu, Japan, in June 2024, followed by shipments to China.
NNPC’s collaboration with its subsidiaries, NNPC LNG Ltd. and NNPC Shipping Ltd., has positioned the company as a competitive player in the LNG market, with plans for further deliveries to Asia later in the year.
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