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.
Tony Attah, Managing Director and Chief Executive Officer of NLNG, signed on behalf of the company while Total’s Senior Vice President, Thomas Maurisse, 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%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N. V. S.àr.l (10.4%).