Nigeria LNG Limited (NLNG) and Galp Trading S.A have signed a LNG Sale and Purchase Agreement (SPA) for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3.
NLNG’s spokesman, Eyono Fatayi-Williams, said in a statement on Wednesday evening that the agreement was for the supply of 1mtpa for a 10-year term on a Delivered Ex-ship (DES) basis.
Managing Director and Chief Executive Officer of NLNG, Tony Attah, signed on behalf of the company while Director at Galp, Fernando Ferreira Pinto, signed for Galp.
According to NLNG, the agreement consolidates the company’s plans to remarket volumes from the three trains, and proves further that NLNG is a trusted and reliable supplier of LNG in the global market.
The SPAs for the remarketed volumes repositions the company in readiness for its next phase of growth and consolidation, with a goal to increase market share and competitiveness.
NLNG is an incorporated Joint-Venture owned by four Shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N. V. S.àr.l (10.4%).