According to a Bloomberg report, gas supply has dropped by 80%, meeting only 20% of the company’s requirements through the limited operational facilities.Vandalism and sabotage have severely disrupted operations and LNG exports.
The report noted that declining output from Nigeria’s sole LNG facility could raise spot prices as global supply tightens. In 2024, nearly half of Nigeria’s LNG exports went to Asia, a third to Europe, and the rest to the Americas and the Middle East, according to Bloomberg.In February, Nigeria’s LNG exports dropped 40% from the previous month due to pipeline vandalism, Bloomberg reported.
Planned shipments were delayed by at least 10 days. Stakeholders in Nigeria LNG include Shell, NNPC, TotalEnergies, and Eni.Shell and Nigeria LNG representatives have not commented on the gas supply decline.
Nigeria LNG was founded to leverage the country’s vast gas reserves for LNG and NGL production for local use and export.
