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Vitol signs deal with NLNG to buy Nigerian LNG from 2021

Vitol has signed a sale and purchase agreement (SPA) to buy LNG from Nigeria LNG Limited (NLNG) through the latter’s Trains 1, 2 and 3 located on Nigeria’s Bonny Island.

The Dutch energy trading company will receive 0.5mtpa of LNG for a term of 10 years on a delivered ex-ship basis starting from October 2021.

As per NLNG, the agreement reflects its drive for mutually beneficial partnerships to supply LNG on a global scale in a low carbon world where gas/LNG will continue to be the preferred complementary energy source alongside renewables.

Through the agreement, the Nigerian LNG company and Vitol will bring into partnership, a wealth of global footprint, market reach, and experience in LNG activities.

Vitol signs deal with NLNG to buy Nigerian LNG from 2021

Vitol signs deal with NLNG to buy Nigerian LNG from 2021. Image courtesy of Stuart Miles/Freedigitalphotos.net.

Pablo Galante Escobar – Head of Vitol LNG 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.”

Vitol is engaged in trading and distribution of energy products across the world.

NLNG is a joint venture owned by the Nigerian government, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International (10.4%).

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