Nigeria LNG signed an LNG sale and purchase agreement (SPA) for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3 with Galp Trading.
The statement notes that the agreement is for the supply of 1 million tonnes of LNG per year for a 10-year term on a Delivered Ex-ship (DES) basis.
The agreement consolidates NLNG’s plans to remarket volumes from the three trains, the statement reads.
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 a joint-venture owned by four shareholders, namely, the government of Nigeria, represented by Nigerian National Petroleum Corporation (49 percent), Shell (25.6 percent), Total (15 percent), and Eni (10.4 percent).