Nigeria diverts LNG cargoes to Asia for premium pricing as Middle East disrupts supplies
Nigeria is increasing LNG exports to Asia and redirecting cargoes from Europe to capitalize on record regional prices amid Middle East supply disruptions. Asia's LNG imports fell to 19.03 million metric tons in April 2026—the lowest since June 2020—as Strait of Hormuz closures cut Qatar and other supplies. Nigerian LNG, with 50% of total exports already going to Asia in 2024, is seeing redirected shipments from Europe since March 2026 to tap Asian prices that spiked to $25.30/mmBtu.
NNPC Limited has expanded direct deliveries to Japan while high Asian demand pulls cargoes away from Europe. Bangladesh forecasts 531,000 tons LNG arrivals in April (down from 561,000 in March), sourcing from Nigeria among others. Meanwhile, Qatar's Asia-bound LNG plummeted to 800,000 tons in April from pre-war averages over 6 million tons, forcing Asian buyers to seek alternatives.
This shift presents revenue opportunities for Nigeria as European-bound LNG diverts to Asia for better returns. With China's LNG imports at 3.36 million tons (lowest since 2018) and Pakistan facing near-zero imports, Nigerian exporters are positioned to fill supply gaps. Will this Middle East-driven price surge sustain Nigeria's LNG export growth beyond current disruptions?