NNPC Ltd Expands Global Market Footprint To Japan, China With LNG Supply On Delivered Ex-Ship Basis

<h4>&NewLine;NNPC Ltd Expands Global Market Footprint To Japan<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that in line with its strategic vision to be a dynamic and reliable global energy supplier of choice&comma; the Nigerian National Petroleum Company Limited &lpar;NNPC Ltd&rpar; has commenced shipment of Liquefied Natural Gas &lpar;LNG&rpar; cargoes to Japan and China on Delivered Ex-Ship &lpar;DES&rpar; basis&period;<&sol;p>&NewLine;<p>NNPC Ltd achieved the milestone through the collaboration of two of its Downstream subsidiaries – NNPC LNG Ltd and NNPC Shipping Ltd – which delivered its first DES LNG cargo from the 174&comma;000m³ LNG vessel Grazyna Gesicka at Futtsu&comma; Japan&comma; on 27th June&comma; 2024&period;<&sol;p>&NewLine;<p>Since then&comma; it has expanded its footprint to China with the delivery of one LNG cargo on DES basis&period;<&sol;p>&NewLine;<p>Delivered Ex-Ship &lpar;DES&rpar; is an international commercial term that requires the seller to deliver the products&sol;goods at a specific port&period;<&sol;p>&NewLine;<p>The seller takes responsibility for the shipping and insurance for the products&sol;goods until they get to the specified port of delivery&period; It requires expertise and a higher level of efficiency to execute than the Free on Board &lpar;FOB&rpar; system&period;<&sol;p>&NewLine;<p>NNPC Ltd has been involved in LNG trading since <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">2021<&sol;a> with its first LNG cargo sale in November of that year&period; It has since traded over 20 cargoes into the European and Asian markets on FOB basis&period;<&sol;p>&NewLine;<p>Speaking on the development&comma; the Executive President&comma; Downstream&comma; Mr&period; Dapo Segun&comma; said&colon; <em><strong>&OpenCurlyDoubleQuote;The DES system&comma; apart from being more financially rewarding&comma; allows NNPC Ltd inroads into the downstream segment of the LNG sector and positions it to capture more market shares while building in-house capacity and ensuring that global customers are familiar with the NNPC Ltd brand&period;”<&sol;strong><&sol;em><&sol;p>&NewLine;<p>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&period;<&sol;p>&NewLine;<p><em><strong>&OpenCurlyDoubleQuote;NNPC Shipping intends to build a shipping portfolio &lpar;including owned vessels&rpar; so that we can provide our sister company and other clients all the shipping flexibilities they need”<&sol;strong><&sol;em>&comma; Managing Director of NNPC Shipping&comma; Panos Gliatis&comma; enthused&period;<&sol;p>&NewLine;<p>NNPC LNG Ltd&comma; in collaboration with NNPC Shipping Ltd&comma; is scheduled to deliver at least two more LNG cargoes to the Asian market on DES basis by November&period; Many more orders are expected before the end of year&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;26500" aria-describedby&equals;"caption-attachment-26500" style&equals;"width&colon; 230px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-26500" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2024&sol;08&sol;Ship-2-230x300&period;jpg" alt&equals;"A cross section of the vessel on arrival in Futtsu Japan to deliver NNPC Shipping Ltd’s Liquefied Natural Gas &lpar;LNG&rpar; cargoes to Japan and China on Delivered Ex-Ship &lpar;DES&rpar; basis&comma; recently&period;" width&equals;"230" height&equals;"300" &sol;><figcaption id&equals;"caption-attachment-26500" class&equals;"wp-caption-text"><em><strong>Managing Director of NNPC Shipping Ltd&comma; Mr&period; Panos Gliatis<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;