LNG
sales & purchase agreement signed with Nigeria LNG
Posted: 18 September 2003
Total announced its wholly owned subsidiary Total Gas & Power
Ltd (TGP), and Nigeria LNG Ltd (NLNG) signed yesterday in London
a sales and purchase agreement relating to the supply of 1.2 billion
cubic metres per year of liquefied natural gas produced at the Bonny
LNG plant.
The LNG deliveries will start in 2007 for a duration of 20 years.
"This agreement marks an important step in developing Total's
downstream LNG activities in the Atlantic Basin," said Yves-Louis
Darricarrere President of Total Gas and Power.
Through TGP, the gas and electricity trading and marketing arm
of Total, the LNG will be distributed to various gas markets in
Europe and North America.
With three trains in operation, two trains under construction and
one additional train under development, the Bonny liquefaction plant
operated by NLNG is set to become one of the world's largest LNG
plant. Total holds a 15 per cent stake in NLNG.
Total, already active in the fast growing spot LNG trade, intends
to support the future growth of its LNG activities by continuing
to expand its own portfolio of LNG sources and outlets.
For more information see http://www.total.com
Posted by Richard Price,
Editor Pipeline Magazine
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