The Nigerian National Petroleum Company Limited (NNPC) has announced that it has begun the shipment of liquified natural gas (LNG) cargoes to Japan and China on a delivered ex-ship (DES) basis.
Delivered ex-ship (DES) is an international commercial term that requires the seller to provide products or goods at a specific port.
The seller is in charge of shipping and insurance until the products arrive at the specified delivery port.
In a statement by NNPC on Monday, August 26, 2024, the company's chief corporate communications officer, Olufemi Soneye, stated that the move is in line with NNPC's vision to be a dynamic and reliable global energy supplier of choice.
The company disclosed that the milestone was achieved through the collaboration of two of its subsidiaries, NNPC LNG Limited and NNPC Shipping Limited, which delivered its first DES LNG cargo via the 174,000m³ LNG vessel, Grazyna Gesicka at Futtsu, Japan, on June 27.
See the full statement below:
PRESS RELEASE
— NNPC Limited (@nnpclimited) August 26, 2024
NNPC Ltd Expands Global Market Footprint to Japan, China with LNG Supply on Delivered Ex-Ship Basis
In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has… pic.twitter.com/g8fXLHRyaM
