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Nigeria LNG Exports Climb to 2-Year High

LNG

LNG exports from Nigeria in Jan rose to the highest level in two years, despite tepid global demand, according to Bloomberg.

  • Shipments climbed to 1.45m mt in January, the highest since Dec. 22.
  • However, it is unclear whether the rise will continue amid ongoing issues including vandalism of pipelines. Moreover, an FM is still in place as NLNG looks to improve security.
  • NLNG has seen “a slight improvement in gas supply to our plant in Bonny Island,” according to Andy Odeh, its general manager for external relations and sustainable development, cited by Bloomberg.
  • Rising global supply has helped keep the market satiated in Jan, with weak demand both in Asia and Europe.
  • Demand is set to fall in Feb as buying slows during the Chinese New Year Holiday.

Source: Bloomberg

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