Nigerian LNG production down by 20% in 2021

LNG production from Bonny Island is down by the equivalent of over 30 standard cargos over the period of Jan-Jul 2021 as compared to the year before, amid market reports of lower than expected feedgas volumes. The drop comes despite very high global LNG prices, with spot JKM around 17 $/mmbtu. Ground was broken on Train 7 in June, which is expected to add an additional 11 bcma of capacity, while domestic demand for LNG to power is also expected to increase.