Despite a weakening monthly export trend out of Africa's five biggest LNG exporters -- Algeria, Angola, Egypt, Libya and Nigeria – sources and analysts at S&P Global Commodity Insights still remain optimistic for the 'big five's' outlook. Register NowCombined LNG exports in February stood at 2.67 million mt, down from 3 million mt in January, according to data from S&P Global Commodity Insights. "There are opportunities on further extension of SPAs and even inking more long-term SPAs, despite the ongoing force majeure in Nigeria LNG," said an Atlantic-based market source. Egypt saw a sharp decrease year on year, between 2022 to 2023, with around a 53% decrease of LNG exports. Platts, part of S&P Global, assessed the East Mediterranean marker for April LNG at $8.555/MMBtu on March 5.
