The Nigeria Liquefied Natural Gas, NLNG’s mega gas deals will deplete by four between 2020 and 2021, it will however three more big contracts.
The Nigerian gas company’s contracts with Turkey’s Botas, Portugal’s Galp Energia, Spain’s Naturgy and France’s energy major Total for a total of 2.67 million tonnes per year will expire in 2020 and 2021, according to the International Group of LNG Importers, GIIGNL.
SweetcrudeReports could not ascertain whether or not the companies will renew their contracts after expiration.
However, NLNG just signed a new 10 years gas contract with commodities trader Vitol.
NLNG will supply Vitol with 500,000 tonnes of LNG per year.
Under the sales and purchase agreement, Vitol said it would purchase volumes from Trains 1, 2 and 3 of a six-train NLNG production facility on Bonny Island. The contract was signed on Dec. 11 and will start in October 2021.
This adds to the much anticipated ongoing Train 7 project.
Added to Vitol, NLNG who is currently looking for buyers for volumes from the Train 7, on Friday, gained extra two Nigerian buyers- Oando Plc and Nigerian Petroleum Development Company, NPDC, also under the gas supply agreement.
The prices tag of the three big contracts are yet to be made public.