"Nigeria cancels LNG shipments after pipeline vandalism"

" Nigeria cancels LNG shipments after pipeline vandalism \r\n \r\n \r\n \r\n\r\nNigeria LNG, the company exporting liquefied natural gas from the African country, has canceled several shipments due to vandalism on gas pipelines that disrupted operations, sources familiar with the matter told\u00a0 Bloomberg \u00a0on Friday.\r\n\r\nThere could have been as many as 10 cargoes canceled, one of Bloomberg\u2019s sources said. Nigeria LNG has also declared a force majeure on export cargoes and scrapped at least 2 loadings scheduled for January. More LNG cargoes planned to load in February could also be canceled, according to Bloomberg\u2019s sources.\r\n\r\nThe disruption in Nigeria LNG\u2019s exports comes as Europe continues to look for LNG shipments to replace the lost Russian pipeline supply and start replenishing in April gas storage sites for next winter once this winter is over.\r\n \r\nDespite the recent plunge in the European benchmark gas prices to below the North Asian benchmark,\u00a0 Europe continues to attract \u00a0most of the U.S. exports of LNG as demand in Asia is still weak.\r\n\r\nNigeria has also supplied a lot of LNG to Europe in recent months.\r\n\r\nNigerian LNG accounted for 7% of the European supply of the super-chilled fuel in 2022, per data compiled by BloombergNEF.\r\n\r\nNigerian LNG and oil supply have suffered in recent years from floods as well as pipeline vandalism, which has often forced operators to declare force majeure on crude oil exports.\r\n\r\nThe combination of pipeline vandalism and oil theft with a lack of investment in capacity has made Nigeria the biggest laggard in crude oil production in the OPEC+ alliance.\r\n\r\nSurveys and analyst estimates pointed to a rebound in Nigeria\u2019s oil production in December 2022, but the African OPEC producer is still significantly trailing behind its OPEC+ quota.\r\n\r\nA rebound in Nigerian production\u00a0 raised \u00a0OPEC\u2019s oil output in December by 120,000 barrels per day (bpd) compared to November, according to a monthly Reuters survey published last week. The Bloomberg survey of OPEC production also showed a\u00a0 rise in output \u00a0for December, by 150,000 bpd over November, thanks to the rebound in Nigerian oil production.\r\n\r\n \r\n \r\n "

"Nigeria cancels LNG shipments after pipeline vandalism"

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