As Nigeria’s gas shipment improved by 27 per cent, a total of 1.16 million metric tonnes worth of $1.02 billion (N1.63 trillion) of liquefied natural gas was export ed to Europe and South America in May.
The product was lifted from Bonny Liquefied Plant in Rivers State to various destinations in May 2025. Findings revealed that some of the vessels had arrived their destinations, while others are expected to arrive other ports from this week till the end of the month.
A metric tonne of LNG, an equivalent of 51.7 million British Thermal Units (MMBtu) hit $879 in the global market. According to Nigerian Ports Authority (NPA)’s Shipping Position, MARAN Gas Olympias left Onne Port with 80,000 tonnes; LNG Imo, 65,000 tonnes; Macoma, 80,000 tonnes; LNG Abalamabie, 77,000 tonnes and LNG Abuja II, 77,000 tonnes. Also, vessel traffic tracked by New Telegraph indicated LNG Lagos II, 77,000 tonnes and LNG Oyo, 65,000 tonnes are to offload their product at the Port of Dahej, India respectively; while LNG Akwa Ibom, 66,000 tonnes is heading to the Port of Cartagena, Spain.
In the same vein, LNG Kano laden with 66,000 tonnes is expected to arrive Hong Kong on June 24, 2025. Early in May, six vessels lifted the cargo to Japan, South America and other various part of the world with Grace Dahlia leading with 77,000 tonnes; LNG Adamawa, 66,000 tonnes; Grace Dahlia, 77,000 tonnes; Cool Voyager, 64,000 tonnes and LNG Lagos, 77,000 tonnes. Further findings indicated Grace Dahlia offloaded its cargo in Japan as Maran Gas Olympias with 80,000 tonnes and LNG Lagos II laden with 77,000 tonnes left to other destinations.
Also, LNG Adamawa with 66,000 tonnes berthed at Honk Kong, while the Cool Voyager sailed to South America East Coast en route on For Orders. In March, only 266,000 tonnes (13.7 MMBtu) of liquefied natural gas valued at N351 billion ($234 million) were delivered by four vessels to South Korea, Croatia and other destinations.
However, NPA shipping position also revealed that Cool Explorer loaded 80,000 tonnes; LNG Imo, 65,000 tonnes; LNG Cross River, 66,000 tonnes and LNG Borno, 65,000 tonnes at Bonny NLNG Plant in Bonny Island.
It was gathered that Cool Explorer left Bonny and discharged its cargo at Mexico as LNG IMO offloaded its consignment at the Port of Omisalj, Croatia, while LNG Cross River also took its cargo to South Korea.
Recall that a gas consulting firm, Kpler noted that Nigeria had forecast to export 13.6 million tonnes in 2025, down from 14.6 metric tonne in 2024 or a short fall of 1 million tonnes valued at $879 million (N1.32 trillion). Findings revealed that the European TTF frontmonth contract averaged $15.33/MMBtu in February, up from $14.68/MMBtu in January.
However, prices of the fuel have rallied in the first 10 days of March, surpassing $17/MMBtu. In January, seven vessels ferried out 426,000 tonnes of liquefied natural gas to various destinations in Europe and Asia.
