Nigeria LNG Limited (NLNG) and Total Gas & Power (TGP) have signed an LNG Sale and Purchase Agreement (SPA) for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3.
The agreement is for the supply of 1.5mtpa for a 10-year term on a Delivered Ex-ship and Free on Board (FOB) basis.
NLNG’s General Manager, External Relations, Eyono Fatayi-Williams, announced this in a statement on Wednesday.
The statement said the Managing Director and Chief Executive Officer of NLNG, Tony Attah, 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 liquified natural gas globally in consolidation of its position as one of the top-ranking LNG suppliers in the world.
The SPA with TGP advances 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%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N. V. S.àr.l (10.4%).