Eni Signs With NLNG Agreement For The Purchase Of 2 bcm/year of LNG

Source: www.gulfoilandgas.com 2/12/2007, Location: Africa

Eni signed a twenty years Sale and Purchase Agreement (SPA) with Nigeria LNG (NLNG) Limited for the acquisition of 1.375 Million Tonnes per year (equivalent to approximately 2 billion cubic meters per year) of liquefied natural gas (LNG). LNG volume sold to Eni will be part of the volume which would be produced from the expansion plant in Bonny named “NLNG T7” which is expected to come into operation in 2012.

Nigeria LNG is a Nigerian Joint Venture company whose shareholders are Nigerian National Petroleum Corporation (49%), Shell (25.6%), TotalFinaElf (15%) and Eni (10.4%).

LNG will be delivered by Nigeria LNG to the terminal of Cameron, Louisiana, where Eni already holds a re-gasification capacity of some 6 bcm/year, and will be sold to the USmarket. The volumes of LNG delivered to Eni through this agreement represent some 17% of the whole production of Bonny’s Train 7 expansion.


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