By Newsshelve Correspondent.
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.
A statement signed by the Chief Corporate Communications officer NNPC Ltd, Femi Soneye, said 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
NNPC Ltd Makes History with First-Ever Liquefied Natural Gas Shipments to Asia
The Nigerian National Petroleum Company Limited (NNPC Ltd) has achieved a significant milestone by successfully shipping Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis.
This 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 achievement 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. This demonstrates NNPC Ltd’s 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.
This achievement is a testament to NNPC Ltd’s commitment to expanding its global market presence and becoming a major player in the energy industry.
By leveraging its subsidiaries and adopting innovative business models like the DES system, NNPC Ltd is well-positioned to capitalize on emerging opportunities and build a sustainable energy future.
The successful shipment of LNG cargoes to Japan and China also highlights NNPC Ltd’s ability to adapt to changing market conditions and customer needs.
As the global energy landscape continues to evolve, NNPC Ltd’s flexibility and responsiveness will be critical in maintaining its competitive edge.
Furthermore, this achievement demonstrates the potential for Nigerian energy companies to play a significant role in the global energy market.
By investing in infrastructure, technology, and human capital, NNPC Ltd is setting a precedent for other Nigerian companies to follow.
NNPC Ltd’s landmark LNG deliveries to Asia mark a significant milestone in the company’s journey to becoming a dynamic and reliable energy supplier of choice.
By expanding its global market footprint and adopting innovative business models, NNPC Ltd is poised to capture more market shares, build in-house capacity, and contribute to Nigeria’s economic growth
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