Gas: Increased demand boosts Nigeria’s N635.2bn export



Liquefied natural gas import by Asian countries increases ahead of winter



High demand for liquefied natural gas by Asians countries has boosted export of the cargo in Nigeria.


Already, some 3.53 million metric tonnes of the natural gas valued at N635.2billion ($1.74billion) have been lifted out of the country.


New China’s price index for liquefied natural gas (LNG) import delivery has reached $493 per metric tonne because of the demand.


It was learnt that the demand for the cargo ahead of winter in Asian countries was responsible for an eight-month high in November 2019.


Nigeria accounts for over 50 per cent of the current LNG production capacity in Africa, following the $12billion expansion of the country’s liquefaction plant at Bonny Island in Rivers State.


The country is also the fourth largest producer of the gas in the world.


Data by the Nigerian Port Authority (NPA)’s shipping position indicated that between August and September, no fewer than 11 ships left Onne Port with 680,000 metric tonnes of the cargo shipped from the LNG’s Bonny Island liquefaction plants, Rivers State to various destinations.


The shipment was 19.3 per cent of the total liquefied gas that left the port in nine months.


It was learnt that China, Turkey, Spain, Pakistan and Indian were the major buyers of the product.


The shipping data revealed that in September 2019, four vessels ferried out 282,000 tonnes of gas with LNG Finima II leading with 77,000 tonnes; LNG Kita, 70, 000 tonnes and LNG Maran Gas, 70, 000 tonnes and LNG Adamawa, 65,000tonnes.


Also,   398,000 tonnes of the product were lifted in  August  by LNG Abuja II laden with  77,000 tonnes,  LNG Cabtillo De with 70,000 tonnes; LNG Oyo, 68,000 tonnes; LNG Maran Gas Chios, 70,000 tonnes; LNG Hoech Gannet, 70,000 tonnes; LPG Continental, 30,000tonnes and LPG Navigator, 13,000 tonnes.


Record of the shipments revealed that a total of 1.35 million tonnes of natural gas were exported between June and August, 2019.


In June and July, 947, 000 metric tonnes of gas were also lifted by 14 vessels  to China and other countries.


The NPA shipping data indicated that nine vessels left the port in July with 585,000 tonnes with 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 362,000tonnes. 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.


In 2018, the country exported 19.68 million tonnes of LNG, according to the International Group of Liquified Natural Gas Exporters (IGLNGE),  representing a 6.3per cent  share of global output, behind Qatar’s 76.79 million tonnes, Australia’s 66.66 million tonnes, Malaysia’s  24.66 million tonnes and the United States’, 20.65 million tonnes.


It learnt that the country would soon become the fourth biggest LNG exporter in the world when Train 7 project is completed.


Related posts

Leave a Comment