Nigeria’s cooking gas transport peaked in 2020, 2021 and 2023 –Report

Nigeria’s cooking transport reached its peak in 2020, 2021 and 2023, as disclosed by data from HydroCarbon Information Services (HydroCIS)

HydroCIS in the report seen by New Telegraph yesterday said that over the past five years, Nigeria’s cooking gas market has relied on Gas Carriers (GC), Medium Gas Carriers (MGC), and Large Gas Carriers (LGC) for transporting cargoes.

It stated that these vessels, categorized by their capacity, reached peak transport levels of 114 kt in 2023, 787 kt in 2021, and 239 kt in 2020.

It explained that in the cooking gas market, vessels are classified based on their cargo capacities: such as Shuttle: 0-8,000 CMB (<5,000 Tonnes); Gas Carrier: 8,000-20,000 CMB (5-11,000 Tonnes); Medium Gas Carrier: 20,000-50,000 CMB (11-29,000 Tonnes); Large Gas Carrier: 50,000-70,000 CMB (29-40,000 Tonnes) and very Large Gas Carrier: 70,000 CMB+ (40,000 Tonnes+)

It further stated that the Medium Gas Carrier handles the highest volume of cargo, while the Gas Carrier deals with the least.

According to the report, the Medium Gas Carrier’s delivery volumes have decreased by 28 per cent, 29 per cent, and 22 per cent respectively in comparison to the preceding three years—2022, 2021, and 2020.

It however, noted that the distribution volumes for the Gas Carrier and Large Gas Carrier have seen significant growth, increasing by 81 per cent and 500 per cent respectively during the same period.