Nigerian Gas Exports Surge 57% to $3.38bn as Europe Demand and Global Energy Crisis Boost LNG Trade
Nigeria’s liquefied natural gas (LNG) exports have recorded a major boost, surging by 57% to $3.38 billion in the first quarter of 2026, compared to the same period in 2025. The increase highlights Nigeria’s growing importance in the global energy market, especially across Europe where demand for stable energy sources continues to rise.
According to industry findings, Nigeria exported about 6.09 million tonnes (292,873.36 mmscf) of gas between January and March 2026, earning approximately $5.95 billion. This marks a sharp increase from 4.66 million tonnes (223,985.88 mmscf) worth $2.5 billion recorded in Q1 2025. The rise in revenue was largely driven by a spike in global LNG prices, which jumped to about $980 per tonne in 2026 from $522 per tonne the previous year.
Data from the Nigerian National Petroleum Company Limited (NNPC) shows that Spain and Portugal remain Nigeria’s biggest LNG customers, accounting for about 60% of total exports. Analysts attribute the surge in demand to ongoing global energy instability, especially disruptions linked to geopolitical tensions affecting supply routes like the Strait of Hormuz.
Further insights reveal that Nigeria exported a total of 19.54 million tonnes of LNG valued at $13.3 billion between April 2025 and March 2026. Europe, Asia, and the Americas all featured among key destinations, with countries such as the Netherlands, South Korea, Pakistan, Jamaica, France, and the United States increasing imports as global buyers seek more reliable energy suppliers.
With production capacity now strengthened to 22 million tonnes per annum following the expansion of Train 7, Nigeria is positioning itself as a stronger player in the global LNG market. However, despite high demand, the country still faced a supply shortfall of about 4 million tonnes in 2025, valued at $2.1 billion, underscoring both the opportunities and challenges in scaling production to meet international demand.
sourcce: newtelegraph