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

Tony Attah, Managing Director and Chief Executive Officer of NLNG, and Pablo Galante Escobar, Global Head of LNG, Vitol S.A., signed the LNG SPA at an event witnessed by Executives and Senior Managements of both NLNG and Vitol. The executed agreement is for the supply of 0.5mtpa of LNG for a 10 year term on a Delivered Ex-ship basis commencing October 2021.

According to NLNG, the agreement underscores 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 be the preferred complementary energy source alongside renewables.

By this agreement, NLNG and Vitol SA would bring into partnership, a wealth of global presence, market reach, and experience in LNG operations.

Pablo Galante Escobar, Head of LNG for Vitol said: “We are delighted to be partnering with NLNG and look forward to working together to build on new opportunities. Vitol has a long history of investing in Africa and of participating in Nigeria’s energy sector.”

About Vitol

Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over seven million barrels per day of crude oil and products and, at any time, has 250 ships transporting its cargoes.

Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: almost 16mm3 of storage across seven continents, 480kbpd of refining capacity and circa 6,500 service stations across Africa, Australia, Brazil, Eurasia and in Northwest Europe. Revenues in 2018 were $231 billion.

With over 7.8 million tonnes of LNG delivered in 2018 (expected to rise to at least 10 million tonnes in 2019) and an extensive global trading and logistics network developed over a decade of delivering to customers, Vitol is one of the largest and most experienced independent traders of LNG.

Its LNG portfolio comprises multiple medium and long-term contracts with customers from across all continents from Korea Midland Power (KOMIPO) to Angola LNG and Cheniere. These contracts are underpinned by contracts with relevant infrastructure, including shipping and regasification facilities.

About Nigeria LNG Limited (NLNG)

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%).