• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Monday, August 11, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home National

NNPC Ltd begins liquefied gas supply to Japan, China

Nathaniel Irobi by Nathaniel Irobi
August 27, 2024
in National
0
NNPC Ltd begins liquefied gas supply to Japan, China

A cross section of the vessel on arrival in Futtsu Japan to deliver NNPC Shipping Ltd’s Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis, recently

0
SHARES
8
VIEWS
FacebookTwitterWhatsappEmailTelegram
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has begun shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis.
Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., quoted Mr Segun Dapo, the Executive President, Downstream, NNPC Ltd., as saying this in a statement in Abuja on Monday.

Dapo was quoted as saying that the development was in line with the company’s strategic vision to be a reliable global energy supplier.

“Apart from being more financially rewarding, the DES system allowed NNPC Ltd. to inroad into the downstream segment of the LNG sector,” he said.

The News Agency of Nigeria (NAN) reports that the Delivered Ex-Ship (DES) is an international commercial term that requires the seller to deliver the products/goods at a specific port.

The seller takes responsibility for the shipping and insurance for the products/goods until they get to the specified port of delivery.

It requires expertise and a higher level of efficiency to execute, than the Free on Board (FOB) system.

Soneye also quoted Dapo as saying that the NNPC Ltd. achieved the milestone in collaboration with two of its downstream subsidiaries.

He listed the subsidiaries as NNPC LNG Ltd and NNPC Shipping Ltd.

He said it delivered its first DES LNG cargo from the 174,000m³ LNG vessel Grazyna Gesicka at Futtsu, Japan, on June 27, 2024.

“Since then, it has expanded its footprint to China with the delivery of one LNG cargo on DES basis.

“NNPC Ltd. has been involved in LNG trading since 2021 with its first LNG cargo sale in November of that year. It has since traded over 20 cargoes into the European and Asian markets on FOB basis.

ALSO READ:  NLC directs workers in FCT area councils to begin strike Dec. 1

“It will position the NNPC Ltd. to capture more market shares while building in-house capacity and ensuring that global customers are familiar with the NNPC Ltd brand,” he said.

According to Dapo, the collaboration between NNPC LNG Ltd. and NNPC Shipping Ltd. in executing the LNG supplies on DES basis has strengthened the latter’s position as a world class shipping provider in the LNG sector.

The Managing Director of NNPC Shipping, Mr Panos Gliatis, was also quoted as saying that the NNPC Shipping intended to build a shipping portfolio (including owned vessels) to provide the sister company and other clients all the shipping flexibilities they needed.

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.

More orders are expected before the end of year. (NAN

RelatedPosts

260 Army Officers Sit Senior Staff Course Qualifying Exam

Abuja to Host Over 500 International Investors at 2025 Investment Expo

Nigerian Army Will Have Well-educated, Future-ready Soldiers, Defence Chief Promises

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has begun shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis.
Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., quoted Mr Segun Dapo, the Executive President, Downstream, NNPC Ltd., as saying this in a statement in Abuja on Monday.

Dapo was quoted as saying that the development was in line with the company’s strategic vision to be a reliable global energy supplier.

ALSO READ:  Journalists Urged to Mainstream Gender in Reporting

“Apart from being more financially rewarding, the DES system allowed NNPC Ltd. to inroad into the downstream segment of the LNG sector,” he said.

The News Agency of Nigeria (NAN) reports that the Delivered Ex-Ship (DES) is an international commercial term that requires the seller to deliver the products/goods at a specific port.

The seller takes responsibility for the shipping and insurance for the products/goods until they get to the specified port of delivery.

It requires expertise and a higher level of efficiency to execute, than the Free on Board (FOB) system.

Soneye also quoted Dapo as saying that the NNPC Ltd. achieved the milestone in collaboration with two of its downstream subsidiaries.

He listed the subsidiaries as NNPC LNG Ltd and NNPC Shipping Ltd.

He said it delivered its first DES LNG cargo from the 174,000m³ LNG vessel Grazyna Gesicka at Futtsu, Japan, on June 27, 2024.

“Since then, it has expanded its footprint to China with the delivery of one LNG cargo on DES basis.

“NNPC Ltd. has been involved in LNG trading since 2021 with its first LNG cargo sale in November of that year. It has since traded over 20 cargoes into the European and Asian markets on FOB basis.

“It will position the NNPC Ltd. to capture more market shares while building in-house capacity and ensuring that global customers are familiar with the NNPC Ltd brand,” he said.

According to Dapo, the collaboration between NNPC LNG Ltd. and NNPC Shipping Ltd. in executing the LNG supplies on DES basis has strengthened the latter’s position as a world class shipping provider in the LNG sector.

ALSO READ:  CAN Demands Public Apology From FIRS Over Easter Message

The Managing Director of NNPC Shipping, Mr Panos Gliatis, was also quoted as saying that the NNPC Shipping intended to build a shipping portfolio (including owned vessels) to provide the sister company and other clients all the shipping flexibilities they needed.

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.

More orders are expected before the end of year. (NAN

Tags: gas supplyNNPC Ltd
Nathaniel Irobi

Nathaniel Irobi

Related Posts

260 Army Officers Sit Senior Staff Course Qualifying Exam

260 Army Officers Sit Senior Staff Course Qualifying Exam

by Nathaniel Irobi
August 11, 2025
0

No fewer than 260 army middle cadre officers are sitting for the Senior Staff Course Qualifying Examination 2025. The examination...

Wike Outlines Conditions for PDP National Convention to Foster Unity

Abuja to Host Over 500 International Investors at 2025 Investment Expo

by Nathaniel Irobi
August 11, 2025
0

The 2025 Abuja Business Investment Expo is poised to attract more than 500 elite participants from 40 countries. Organised by...

Nigerian Army Will Have Well-educated, Future-ready Soldiers, Defence Chief Promises

Nigerian Army Will Have Well-educated, Future-ready Soldiers, Defence Chief Promises

by Nathaniel Irobi
August 10, 2025
0

The Chief of Army Staff, Olufemi Oluyede, has reiterated the Nigerian Army’s commitment to developing a well-educated, professionally competent, and...

Recommended

Reject ‘El-Rufai’s Political Comeback, Jagaba Urges Northern Minorities

2027: Ex-LG Chairman, Says Local Governments Thrived Under El-Rufai, Vows ADC Takeover

3 days ago
Odua Assembly Accuses David Mark of Plot To Destabilise ADC

Benue Group Alleges David Mark Hijacked ADC

6 days ago

Popular News

  • Kaduna Baptist Church Donates N50,000 Each To 12 Muslims, 4 Retired Pastors

    Kaduna Baptist Church Donates N50,000 Each To 12 Muslims, 4 Retired Pastors

    0 shares
    Share 0 Tweet 0
  • Cross River State Triumphs at Prestigious All-women Interstate Debate

    0 shares
    Share 0 Tweet 0
  • BRGIE Acting Prime Minister Provides Explosive Testimony to U.S. Congress Calling For Release of Mazi Nnamdi Kanu & Simon Ekpa

    0 shares
    Share 0 Tweet 0
  • Haske: The Rise Of A New Movement

    0 shares
    Share 0 Tweet 0
  • Rahila Bags Presidential’s NYSC Honours Award For Community Service

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (758)
  • Education (222)
  • Entertainment (314)
  • Health (199)
  • National (2,288)
  • News (8,476)
  • Opinion (312)
  • Politics (1,674)
  • Science (15)
  • Security (406)
  • Sports (460)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform