Portugal’s Galp Energia Raises Concern After Flood Stops NLNG Operations

Portugal’s oil and gas company Galp Energia has said it may face additional sourcing disruptions after the Nigeria Liquified Natural Gas(NLNG) declared force

Galp Energia said, in a statement, it had received a notice from Nigeria LNG , its main natural gas supplier, about the force majeure but said “no information was provided to support an assessment of potential impacts”.The declaration of force majeur could worsen Nigeria’s cash crunch and will curtail global gas supplies as Europe and others struggle to replace Russian exports due to the invasion of Ukraine in February.

Portugal’s environment and energy minister Duarte Cordeiro said last month the southern European nation could face supply problems this winter if Nigeria does not deliver all the LNG it is due to.Last year, Portugal imported 2.8 billion cubic meters of LNG from Nigeria, or 49.5 per cent of total imports, while the United States was the second-largest supplier with a share of 33.3 per cent.

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