By OGJ editors
HOUSTON, Oct. 14 -- BG Group PLC unit BG LNG Services LLC (BGLS) reported Tuesday that it signed a 20-year sale and purchase agreement (SPA) with Nigeria LNG Ltd. (NLNG) for the supply of 2.5 million tonnes/year of LNG into the LNG terminal at Lake Charles, La.
In May, NLNG stepped up its presence in the US spot LNG cargo market with the signing of a memorandum of understanding with BGLS for this same supply (OGJ Online, May 14, 2003).
Under the terms of the SPA, NLNG will ship the LNG from Trains 4 and 5 at Finima, Bonny Island, into Lake Charles, where BGLS has 81% capacity rights until September 2005 and 100% until 2024.
BGLS will acquire the LNG starting in 2005 or early 2006 from the NLNG Plus project in Finima. "In addition, the SPA allows for BGLS to take, from the end of 2003, excess volumes from Trains 1, 2, and 3, which are not taken by existing long-term buyers," BG said.
Shareholders in NLNG are Nigerian National Petroleum Corp. 49%, Shell Gas BV 25.6%, Total LNG Nigeria Ltd. 15%, and ENI International (NA) NV 10.4%.
