The Nigerian Liquefied Natural Gas (NLNG) says it has signed LNG Sales and Purchase Agreement (SPA) with Vitol SA for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3.
NLNG disclosed this in a statement signed by Eyono Fatayi-Williams General Manager, External Relations, in Abuja.
Vitol is an energy and commodities company focused on trading and distribution of energy products globally.
It said that the agreement was for the supply of 0.5mtpa of LNG for a 10 year term on a Delivered Ex-ship basis commencing October 2021.
According to NLNG, the agreement underscores NLNG’s drive for mutually beneficial partnerships to deliver LNG on a global scale in a low carbon world where gas/LNG will continue to remain the energy partner of choice to renewables.
By this agreement, NLNG and Vitol SA would bring into partnership, a wealth of global presence, market reach, and experience in LNG operations.
The statement said that Mr Tony Attah, Managing Director of NLNG signed on behalf of the company while Pablo Galante Escobar, Global Head of LNG, Vitol S.A., signed for Vitol SPA
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%).