Nigeria's state oil company makes pre-payment deal for gas projects
LAGOS (Reuters) - Nigerian National Petroleum Corp (NNPC), Nigeria's state oil company, said it had signed a $2.5 billion pre-payment 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. (Reporting by Alexis Akwagyiram; Editing by Dale Hudson and Susan Fenton)
- Gasum powers Equinor's platform supply vessel with bio-LNG
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments