Nigeria's LNG Exports Plummet by N253 Billion in July

Nigeria's liquefied natural gas exports have declined significantly in July, slumping by 200,000 tonnes valued at N253 billion ($187.8 million) from 1.88 million tonnes in June to 1.68 million tonne.

This decline is attributed to the channeling of over 50% of the gas for domestic consumption, leaving only 35.58% of total production available for export despite high demand from European and Asian buyers.

The country's exports to Europe have decreased by N160 billion ($116 million) or seven percent in June, with shipment dropping from 2.02 million tonnes or $1.68 billion in May to 1.88 million tonnes or $1.5 billion in June.