Energy

NLNG signs Sale and Purchase Agreement with Eni

NLNG signs Sale and Purchase Agreement with Eni

 By Abisola THOMPSON

 

Nigeria LNG Limited (NLNG) and Eni have signed a LNG Sale and Purchase Agreement (SPA) for some of the remarketed volumes from NLNG’s Trains 1, 2 and 3.

 

Eyono Fatayi-Williams,  General Manager, External Relations of NLNG in a statement issued on Monday and made available to TBI Africa in Lagos  said the agreement is for the supply of 1.5mtpa for a 10 year term on a Delivered Ex-ship (DES) and Free on Board (FOB) basis.

 

According to NLNG, the agreement signifies customers’ confidence in NLNG as a trusted, safe and reliable LNG supplier in the world. The company added that it is primed for taking up a position in the ranks of top LNG companies with plans to grow its market share. The SPA with Eni advances the ongoing plans by NLNG to remarket volumes from the three trains.

 

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%).

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