NLNG, Total signs 10-year MoU Deal

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NLNG, Total signs 10-year MoU Deal
 


Chinazor Megbolu   |  

The Nigeria Liquefied Natural Gas (NLNG) has signed a 10- year Memorandum of Understanding (MoU) deal with French energy group, Total.
 
The partnership deal, report says,  is for a 1.5 million tons of LNG per year, the producer said.

The two organisations also hinted that the agreement is for 10 years, with volumes to be supplied to Total from trains 1, 2 and 3 of the Nigeria LNG plant at Bonny.

The NLNG , in a statement,  noted that the deal is in line with Nigeria LNG’s initiative to continue to deliver LNG globally in consolidation of its position as one of the top-ranking LNG suppliers in the world.

According to the company; “the deliveries under the agreement will commence October 2021”.

The organisation further maintained that it is not yet certain when the deal would actually commence.

The statement, however, said NLNG has been remarketing some volumes from its existing trains as some contracts approach expiry.

Moreover, the report also stressed that the firm’s contracts with Turkey’s Botas, Portugal’s Galp Energia, Spain’s Naturgy and Total for a total of 2.67 million tons a year will expire in 2020 and 2021, according to the International Group of LNG Importers (GIIGNL).

Recall that NLNG is a joint venture between the Nigerian National Petroleum Corporation, Shell, Total and Eni.

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