Linetrale LLC, a trading company led by Nigerian energy executive Mustapha Fasinro, has won a foothold in the global liquefied natural gas market after landing cargoes in a recent Nigerian National Petroleum Corporation tender.
The deal puts the Lagos-based firm in the same league as trading giants Gunvor Group and Abu Dhabi National Oil Company, both awarded cargoes alongside Linetrale. It marks a rare advance for a Nigerian-owned company in a field long dominated by global players.
Founded nearly 20 years ago, Linetrale has mostly focused on trading liquefied petroleum gas, natural gas liquids and crude oil products. It had only supplied two LNG cargoes before — one in 2020 and another in 2023 — making last week’s win its most significant move yet into the sector.
Local breakthrough in a tough market
Breaking into LNG trading is notoriously difficult for smaller firms. The business requires specialized ships, heavy infrastructure and large sums of financing to transport gas that must be chilled to minus 162 degrees Celsius for shipping.
Those barriers have concentrated the trade in the hands of a few big international companies. Linetrale’s success in competing for NNPC cargoes shows that Nigerian firms can find space in the market, said one industry analyst who asked not to be named discussing a private tender.
Rising demand for natural gas
The breakthrough comes as global demand for LNG climbs, with Europe and Asia both competing for supplies to diversify away from traditional sources. A fresh wave of production is expected to come online next year, intensifying competition but also creating new opportunities for emerging traders.
Nigeria is home to some of the continent’s biggest natural gas reserves and runs a key liquefied natural gas export hub on Bonny Island. The government is counting on its “Decade of Gas” program to boost exports and attract investment.
By awarding cargoes to both international majors and a Nigerian-owned company, NNPC signaled its intention to give homegrown firms a larger stake in the industry.
A bigger role for Fasinro and Linetrale
Fasinro has kept a low profile during Linetrale’s rise but has steadily broadened its portfolio. Securing the LNG tender is expected to boost the company’s standing with international partners and challenge it to prove it can manage the demanding logistics of long-distance gas deliveries.
