The Nigerian Liquefied Natural Gas (NLNG) 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, on Wednesday.
Vitol is an energy and commodities company with focus on trading and distribution of energy products globally.
The General Manager 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 from October 2021.
He said the agreement underscored 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.
Fatayi-Williams said in the agreement, NLNG and Vitol SA would bring into partnership, a wealth of global presence, market reach, and experience in LNG operations.
He 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, Shell Gas B.V., Total Gaz Electricite Holdings France, and Eni International N.A. N. V. S.àr.l