NNPCL COMMENCES LNG SHIPMENT TO JAPAN AND CHINA.

The Nigerian National Petroleum Company Limited, NNPCL has commenced shipment of Liquefied Natural Gas LNG cargoes to Japan and China on a Delivered Ex-Ship, DES basis.

 The spokesman for the company, Olufemi Soneye, yesterday said NNPCL achieved this through the collaboration of two of its Downstream subsidiaries, namely NNPC LNG Limited and NNPC Shipping Limited which delivered its first DES LNG cargo in Japan, on June 27, 2024 and has since then, expanded its footprint to China with the delivery of one LNG cargo on a DES basis.

 Soneye said the company has been involved in LNG trading since 2021 with its first LNG cargo sale in November of that year and had since traded over 20 cargoes into the European and Asian markets on a Free On Board, FOB basis.

He pointed out that NNPC LNG Limited, in partnership with NNPC Shipping Limited, is scheduled to deliver at least two more LNG cargoes to the Asian market on a DES basis by November, while more cargoes are expected before the end of the year.