The Nigerian National Petroleum Company Limited (NNPC) has achieved a significant milestone by commencing shipments of Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis. This move aligns with NNPC’s strategic vision to become a dynamic and reliable global energy supplier of choice.
According to NNPC’s spokesperson, Olufemi Soneye, the company’s downstream subsidiaries, NNPC LNG Ltd and NNPC Shipping Ltd, collaborated to achieve this feat. The first DES LNG cargo was delivered from the 174,000m³ LNG vessel Grazyna Gesicka at Futtsu, Japan, on June 27, 2024, followed by another cargo delivery to China.
The DES system requires the seller to deliver products at a specific port, taking responsibility for shipping and insurance until arrival. This expertise-intensive approach has allowed NNPC Ltd to expand its footprint in the global LNG market since 2021, trading over 20 cargoes into European and Asian markets on a Free on Board (FOB) basis.
Executive President, Downstream, Mr. Dapo Segun, highlighted the benefits of the DES system, saying, “It positions NNPC to capture more market shares, build in-house capacity, and increase brand recognition among global customers.
