Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

NLNG signs supply agreement with Galp Trading SA 

Fakoyejo OlalekanbyFakoyejo Olalekan
3 years ago
in Business News, Company News
NNPC, Shell, other stakeholders delay final investment on NLNG Train 7 , NLNG signs 10 year sales deal with Eni , NLNG signs supply agreement with Galp Trading SA 
Share on FacebookShare on TwitterShare on Linkedin

Nigeria Liquefied Natural Gas (NLNG) has signed an agreement with Galp Trading SA to supply one million tonnes of LNG per year. This is coming shortly after Nigeria signed a deal with Eni and Total Gas & Power for a 10-year supply.

The Liquefied Natural Gas deal with Galp Trading SA will ensure the company receives a 10-year supply on a delivered ex-ship basis from Trains 1, 2 and 3 of a six-train NLNG production facility on Bonny Island. The move is part of the remarketing of some volumes from NLNG’s existing trains, as some contracts approach expiration.

NLNG signs supply agreement with Galp Trading SA 

What you need to know: The NLNG is co-owned by the Nigerian National Petroleum Corporation (NNPC), representing the Federal government which holds a 49% stake, while the other stakeholders, Shell has 25.6%, Total holds 15% and Eni accounts for 10.4%.

According to a report, NLNG is capable of producing 22mtpa of the LNG as six trains are currently operational. Meanwhile, after a 10-year delay, shareholders of the company took the final investment decision on the company’s Train 7 project in December.

NLNG has been busy: NLNG has been busy signing deals and renewing contracts since late last year. Nairametrics had reported that two separate sale and purchase agreements were sealed by NLNG with Eni and Total Gas & Power for some of the remarketed volumes of Liquefied Natural Gas from NLNG’s Trains 1, 2 and 3.

[READ MORE: Indian firm, Ramco signs partnership deal with Nigerian airline)

Both agreements will also be effective for 10 years. The detail of the deals signed with Eni and Total Gas & Power showed that 1.5 million tonnes will be supplied per annum for the duration of both contracts.

Why the deals matters: The agreement ensures NLNG continues to deliver the LNG globally. This, according to the company, will consolidate the position of Nigeria LNG among the top-ranking LNG suppliers in the world.

Related

Tags: EniGalp Trading SANigeria Liquefied Natural GasNLNGTotal Gas & Power

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Buhari approves July 28 as new date for conclusion of deep offshore oil block mini-bid round activities
  • Fears of a global recession could mean lower oil revenues for Nigeria
  • Car production: ANAMMCO now assembling heavy duty trucks in Nigeria

Follow us on social media:

Recent News

Buhari approves July 28 as new date for conclusion of deep offshore oil block mini-bid round activities

Buhari approves July 28 as new date for conclusion of deep offshore oil block mini-bid round activities

April 1, 2023
Fears of a global recession could mean lower oil revenues for Nigeria

Fears of a global recession could mean lower oil revenues for Nigeria

April 1, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!