Nigeria's State oil company signs $2.5bn prepayment deal for gas projects with NLNG
State oil company Nigerian National Petroleum Corp (NNPC) on Friday said it had signed a $2.5-billion prepayment agreement with Nigeria LNG (NLNG) for upstream gas development projects.
NLNG, which produces liquefied natural gas (LNG) for export, is owned by state-run Nigerian National Petroleum Corporation (NNPC) and foreign energy firms Royal Dutch Shell, Total and ENI.
Nigeria was the fifth largest LNG producer in the world last year, falling from fourth place as its production declined and it was overtaken by the United States, according to the International Group of Liquefied Natural Gas Importers.
NLNG operates six LNG processing units, known as trains, on Bonny Island.
The pre-payment agreement is "for upstream gas development projects to supply trains 1-6", NNPC said on Twitter. It did not provide further details.
Earlier this month NLNG said it had moved closer to an investment decision on the long-awaited Train 7 project to expand its liquefied natural gas plant on Bonny Island.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation