NNPC Ltd Begins LNG Shipments to Japan and China on Delivered Ex-Ship Basis
The Nigerian National Petroleum Company Limited (NNPC Ltd) has initiated the shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China under the Delivered Ex-Ship (DES) term. This milestone follows the successful delivery of their first DES LNG cargo to Futtsu, Japan, on June 27, 2024.
This achievement was made possible through the collaboration of NNPC Ltd’s Downstream subsidiaries, NNPC LNG Ltd and NNPC Shipping Ltd. The delivery was made using the 174,000m³ LNG vessel Grazyna Gesicka.
The DES term is a commercial shipping term that obligates the seller to deliver the goods at a specified port, covering all costs and risks of transportation and insurance until the goods reach the delivery point. This method is more complex and requires greater efficiency compared to the Free on Board (FOB) system.
Since the initial shipment, NNPC Ltd has expanded its operations to include deliveries to China, showcasing its growing international presence in the LNG market.
