Nigeria Liquified Natural Gas (NLNG) Limited will soon commence supply of LNG to Nigerian markets.
Confiance News learnt from a recent Proshare report.
According to the report, the company recently disclosed that it is close to actualizing its plan to supply LNG to the Nigerian market after signing Sales and Purchase Agreements (SPAs) with three power firms as off-takers, who are to set up receiving infrastructure to enable the project to begin.
Confiance News recalls that the NLNG had intended to start domestic LNG supply around July 2022 but fell behind schedule.
“By offering an initial volume of 1.1 mtpa for domestic energy generation in addition to the current supply of 100% of its liquefied petroleum gas (LPG) to the domestic market, we believe the move will deepen domestic gas utilization in Nigeria,” the report stated.
More so, the NLNG has a viable model to boost gas revenue, promote the development of local content, and seize market possibilities in the competitive global LNG market.
With a capacity to process 22m tonnes per annum (mtpa) of LNG, produce 5m tonnes per annum (mtpa) of Natural Gas Liquids (NGLs), and export LNG to markets across the world, mainly in Europe, Asia, and Americas, Nigeria’s LNG Limited (NLNG) is a significant player in the global LNG market.
Clearly, its export markets include Spain, Italy, France, Turkey, South Korea, and other countries in the Americas.
(Proshare)
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