Hellenic Shipping News: Nigeria’s LNG Export Threatened as Asian Buyers Turn to Mozambique

Asian countries are reaching new deals to import LNG from Mozambique, a situation which may cut down Nigeria’s share of LNG export to the Asian markets.

With large offshore gas discoveries, cheaper price and more liquefied natural gas (LNG) projects coming on stream, Mozambique has now become a new competitor on the LNG market to Nigeria, according to a report by the International Energy Agency (IEA).

LNG is gas chilled to liquid form for sea transport and Nigeria supplies about 8 percent of global LNG as well as the world’s fifth biggest LNG exporter.

South America, Asia, Europe are some of Nigeria’s biggest LNG buyers but many Asian nations prefer steady sources of LNG which is a key fuel source for them.
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