By Adedapo Adesanya
Nigeria Liquified Natural Gas Limited (NLNG) and Total Gas and Power (TGP) have signed a LNG Sale and Purchase Agreement (SPA) for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3.
The agreement, according to a statement from the General Manager, External Relations, NLNG, Mr Eyono Fatayi-Williams, was for the supply of 1.5 million tonnes per annum (mtpa) for a 10-year term on a Delivered Ex-ship and Free on Board (FOB) basis.
The statement revealed that Mr Tony Attah, Managing Director and Chief Executive Officer of NLNG, signed on behalf of the company while Thomas Maurisse, Senior Vice President LNG, signed for TGP.
According to NLNG, the agreement is in line with NLNG’s drive to continue to deliver LNG globally in consolidation of its position as one of the top-ranking LNG suppliers in the world.
The SPA with TGP advances the plans by NLNG to remarket volumes from three trains. 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”.
NLNG is an incorporated Joint-Venture owned by four Shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49 percent), Shell Gas B.V. (25.6 percent), Total Gaz Electricite Holdings France (15 percent), and Eni International N.A. N. V. S.àr.l (10.4 percent).
According to the Minister of State for Petroleum Resource, Mr Timipre Sylva, earlier in the year, he said 2020 was the Year of Gas as he promised that the government would increase efforts to double gas penetration in the country.
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