A major Nigerian energy company says it cannot deliver natural gas as promised in its contracts after deadly flooding hindered its operations, raising concerns about whether Africa's largest economy can meet increased local and international demands during an energy crisis provoked by Russia's war in Ukraine.
Nigeria LNG Limited, or NLNG, declared a “force majeure" this week, meaning it is unable to fulfill its contractual obligations to supply the fuel used around the world to generate electricity, heat homes and run factories after flooding led to a “significant disruption of gas supply.” About 3.8% of global monthly supply could be affected, risking higher prices, Rystad Energy said.
