NLNG shops for new buyers of its products
In its bid to boost marketing of its products, the Nigeria LNG (NLNG) says it has begun talks with potential buyers on new contracts for gas supplies from its first three production units.
According to a senior official of the company, who spoke on the condition of anonymity the targeted new buyers are being wooed to patronise the liquefied natural gas (LNG) unit of the NLNG.
The new contracts are for gas supplies from Trains 1, 2 and 3, which together produce 9 million tonnes of LNG a year.
Also being discussed, said the official who spoke at an international conference at Chiba outside Tokyo, said Nigeria is still making fortune from the NLNG, despite calls for it to be sold.
“Trains 1-3 are coming back to the market as they are out of contract by 2022. We started to remarket today,” he told Reuters late on Wednesday at the conference. The units that freeze natural gas into liquid form for export on ships are known as trains in the industry.
Initial responses from buyers have been positive, he said.
“There are some who are guaranteed to buy,” the official said, though he provided no further details.
Nigeria LNG is a venture between state-owned Nigerian National Petroleum Corporation (NNPC), Royal Dutch Shell , Total and Eni.
Its Bonny Island LNG plant on Nigeria’s southern coast has six trains with a total capacity of 22 million tonnes a yea