NLNG signs sales, purchase agreement with Galp SA
Nigeria Liquefied Natural Gas, NLNG, limited and Galp Trading S.A have signed a 10-year gas sale and purchase agreement, SPA, for the supply of one million metric tons of liquefied natural gas per annum.
NLNG, in a statement by its General Manager, External Relations, Eyono Fatayi-Williams, said the agreement will supply some of the remarketed volumes from NLNG’s Trains 1, 2 and 3 for a 10 year term on a delivered ex-ship, DES, basis.
The gas company said the agreement consolidates its 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.
According to NLNG, the sale and purchase agreement 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.
Managing Director and Chief Executive Officer of NLNG, Mr Tony Attah, signed on behalf of the company while the Director of Galp, Fernando Ferreira Pinto, signed for Galp.
NLNG is an incorporated joint venture owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation, 49 per cent, Shell Gas B.V, 25.6 per cent, Total Gaz Electricite Holdings France, 15 per cent, and Eni International N.A. N. V. S.àr.l, 10.4 per cent.