14 vessels lift N298.9bn liquefied gas from Onne Port



As the price of natural gas in Asia remains steady since last month, no fewer than 14 vessels have left Onne Port between June and July this year with 947, 000 metric tonnes of Liquefied Natural Gas (LNG).

The liquefied gas is valued at N298.9billion ($830.5million) in the Asian market.

In the last six months, the price of LNG in Asia has reached $877 per metric tonnes.

It was learnt that the surge in the export of the product is as a result of high demand driven by rising Chinese imports.

China’s imports of liquefied natural gas increased in March 2019, as demand remains robust, according to data released by the China General Administration of Customs.

It was gathered that between January and July 2019, the country has exported some 2.85 million tonnes of the natural gas to various countries.

The gas was lifted from the LNG’s Bonny Island liquefaction plants, Rivers State.

Data by Nigerian Ports Authority (NPA)’s shipping position indicated that nine vessels left the port this month with 585,000 tonnes of the gas.

The figure is 38.12 per cent higher than the June export.

Of the 585,000 tonnes, LNG Lagos II lifted 77,000 tonnes; LNG Bonny II, 77,000 tonnes; LNG Lokoja, 68,000 tonnes; LNG Borno, 68,000 tonnes; LNG Maran Gas , 70, 000 tonnes; LPG Navigator, 13, 000 tonnes; LNG Rivers, 65,000 tonnes;  LNG Adamawa, 65,000 tonnes  and LNG Abalamabie, 77, 000 tonnes.

Also in June, five vessels left the country with 362,000 tonnes.

Within the period, LNG Mag Dala ferried out 70,000 tonnes; LNG Finima II also lifted 77,000 tonnes; LNG Abuja II, 77,000 tonnes; LNG Borno, 68,000 tonnes and   LNG Sevilla, 70,000 tonnes.

It was learnt that forward prices assessed by Platts last week showed that Nigerian netbacks for Asian market was higher than those for Northwest Europe.

Since January this year, gas export from Nigeria to Europe and Asia has been on the increase.

According to NPA’s shipping data, between January and April 2019, 28 vessels ferried out 1.76million tonnes of the natural gas to Asia and Europe.

The shipping statistics also indicated that seven vessels left Onne Port with 438,000 metric tonnes of liquefied natural gas in April alone.

In the period, LNG Benue left the port with 68,000 tonnes; LNG Gaslog Geneva, 70,000 tonnes; LNG Enugu, 68,000 tonnes; LNG Cross River, 65,000 tonnes; Navigator, 13,000 tonnes; LNG Abuja, 77,000 tonnes and  LNG Lagos, 77,000 tonnes

Also,  450,000tonnes were also ferried out by six vessels in March this year  to various destinations with LNG Wilpride, leading with 70,000 tonnes; LNG Gaslog Genoa,70,000 tonnes; LNG Ondo,68,000 tonnes ; LNG Benue, 68,000 tonnes; LNG Rivers, 65,000 tonnes; LNG Akwa Ibom,65,000 tonnes and LPG BW Confidence,44,000 tonnes.

The month of February recorded shipment of 496,000 tonnes of gas.

The product was lifted out of the country by LNG Abalamabie with 77,000 tonnes; LNG Adamawa, 65,000 tonnes and LNG Methane Alison Victoria with 65,000 tonnes.

Others are LNG Maran Gas Hector, 70,000 tonnes; LNG Bonny II, 77,000 tonnes; LNG Bayelsa 65,000 tonnes and LNG Lagos, 77,000 tonnes.

In January, the NPA’s   shipping position also revealed that 382, 500 tonnes were exported out of the country.

LNG Benue ferried out 65,000 tonnes; LNG Cubal, 68,000 tonnes; LNG Methane Kari Elin, 65,000 tonnes; LNG Adamawa, 65,000 tonnes; LPG Africa Gas, 21,500 tonnes; LNG River Niger, 65,000 tonnes and MT STI Garnet, 33, 000 tonnes.

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