The Nigerian National Petroleum Company Limited (NNPC) has announced the start of LNG exports to Japan and China.
Operating under a Delivered Ex-Ship (DES) model – in which the seller delivers the product at a specific port and is responsible for the shipment and insurance – the milestone was achieved in June 2024 and supports Nigeria‘s efforts to expand its global footprint and downstream business.
“The DES system, apart from being more financially rewarding, allows NNPC Ltd. inroads into the downstream segment of the LNG sector and positions it to capture more market shares while building in-house capacity and ensuring that global customers are familiar with the NNPC Ltd. brand,” stated Adedapo Segun, Executive President of Downstream at NNPC.
NNPC will deliver two additional LNG cargoes to Asia by November 2024, adding to the more than 20 cargoes the firm has shipped to European and Asian clients since 2020.
