24 July 2013 – Short term sentiment in Africa’s liquefied natural gas (LNG) market has tended towards the negative for a variety of reasons. According to the Drewry group, which produces a LNG freight index, the Nigerian maritime administration blocked ship movements from the Bonny Channel as its relationship with Nigeria LNG became tenser.
Drewry says African supply has already suffered as north African suppliers have been facing feedstock problems. The latest force majeure on Nigeria LNG could curtail as much as one cargo every day, based upon what the terminal exported in 2012.
Although Angola LNG has been commissioned, it will soon go on a planned maintenance shortly and is in no position to fill in the vacuum left by the absence of Nigerian LNG.