The Nigerian National Petroleum Company Limited (NNPC Ltd) has successfully shipped Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis.

According to a statement issued by the Chief Corporate Communications officer NNPC LTD Femi Soneye, the historic shipment marks an expansion of NNPC Ltd’s global market footprint and reinforces its strategic vision to become a dynamic and reliable energy supplier of choice.

The shipment was made possible through the collaboration of NNPC LNG Ltd and NNPC Shipping Ltd, two of NNPC Ltd’s Downstream subsidiaries.

The first DES LNG cargo was delivered to Japan on June 27, 2024, followed by a subsequent delivery to China.

The achievement, the Company says demonstrates its capability to navigate the complex global energy market and adapt to changing customer needs.

The DES system requires the seller to take responsibility for shipping and insurance, making it a more financially rewarding and efficient way of doing business.

NNPC Ltd’s Executive President, Downstream, Dapo Segun, praised the achievement, saying it positions the company to capture more market shares and build in-house capacity.

NNPC Shipping Ltd’s Managing Director, Panos Gliatis, also expressed enthusiasm for the company’s plans to build a shipping portfolio and provide flexibility to clients.

The statement added that NNPC LNG Ltd, in collaboration with NNPC Shipping Ltd, is scheduled to deliver at least two more LNG cargoes to the Asian market on DES basis by November.

Source: AIT