NLNG and Total gas seals 10-year sales deal
The Nigeria Liquefied Natural Gas Limited (NLNG) and Total Gas and Power (TGP) sealed a 10-year sales and purchase agreement (SPA) to remarket volumes of Liquefied Natural Gas from NLNG’s Trains 1, 2 and 3.
According to the report, the agreement which was signed by the MD/CEO, NLNG, Tony Attah as well as the Senior Vice President at the LNG, Thomas Maurisse, who signed for TGP is targeted at building continuity in LNG global delivery.
This, according to the company, will consolidate the position of Nigeria LNG among the top-ranking LNG suppliers in the world.
The details of the deal showed that 1.5 million tonnes will be supplied per annum for the duration of the contract.
NLNG which is a company co-owned by the Nigerian National Petroleum Corporation (NNPC) already has the capability of producing 22mtpa of the LNG as six trains are currently operational.
According to the General manager, External Relations, Eyono Fatayi-Williams, said that the product would be supplied on a delivered ex-ship and free on board basis.
Commenting on the deal, Attah in a statement said: “The SPA with the TGP advances the plans by the NLNG to remarket volumes from three trains.
Attah stressed further that, “The SPA is expected to boost the company’s global presence and market reach in line with its corporate vision of being a global LNG company, helping to build a better Nigeria.”
It is important to note that the NLNG, representing the Federal government holds a 49% stake, while the other stakeholders, Shell has 25.6%, Total holds 15% and Eni accounts for 10.4%.