The Nigeria Liquefied Natural Gas (NLNG) Company has sealed a 10-year Sales and Purchase Agreement (SPA) with the firms of Gas-Plus Synergy Limited, Asiko Power Limited and Bridport Energy Limited for the domestic supply of Liquefied Natural Gas (LNG) in the country.
Under the agreement, the Nigeria Liquefied Natural Gas Company is expected to supply 1.1 million tons per annum (mtpa) of Nigeria Liquefied Natural Gas on ‘DES’ basis to Asiko Power Limited, Bridport Energy Limited and Gas-Plus Synergy Limited. The SPAs will facilitate the project execution and infrastructural development by off-takers to aid LNG delivery into the domestic market.
Mr Tony Attah, Managing Director and Chief Executive Officer of the Nigeria Liquefied Natural Gas (NLNG) Company disclosed that the signing and execution of the Sales and Purchase Agreement (SPA) was a strong expression of NLNG commitment to unlocking Nigeria’s gas potentials and making gas count for the good of Nigerians.
He opined that Nigeria could be counted among major players in the industry, having regards to our country’s enormous gas reserves, noting that government has demonstrated its readiness to take the gas sector to the next level by declaring this decade ‘Nigeria’s Decade of Gas’ and a decade for empowering local Small and Medium Entrepreneurs, to take advantage of various investment opportunities, the decade of gas will attract.
Mr Attah recalled that the Nigeria Liquefied Natural Gas (NLNG) Company commenced the supply of Liquefied Petroleum Gas nationwide in 2007 and disclosed that the execution of this Sales and Purchase Agreement (SPA) was pursuant to a workshop held in November 2019.
He explained that series of test models and engagements were utilized to identify suitable actors and stimulate market interest for potential Off-takers. The essence is to expand the Liquefied Petroleum Gas value chain in the domestic market to 450,000 tons and to develop a value network for a sustainable ecosystem, he said.