Government in Action
NLNG expands gas exportation
Jun 27, 2003, 15:52
| | Nigeria Liquefied Natural Gas (NLNG) on 26 June expanded its exportation of Liquefied Petroleum Gas, with the shipment of 40, 000 tonnes to the United States of America.
The LPG shipment was sold on spot basis to Vitol of Switzerland, and is being transported on a giant refrigerated ship, which set out from Bonny for the United States port of Galina Park.
The company which began production in September 1999, is co-owned by the Nigeria National Petroleum Corporation (NNPC), the Anglo-Dutch group Royal Dutch Shell, Italy’s Agip and France’s Total.
The company has sold its product to Enel of Italy, Enagas of Spain, Botas of Turkey, Gaz de France and Transgas of Portugal.
NLNG’s train 3 liquefaction plant came own stream in March thus enhancing the expansion of the company’s output.
At the current international market price of $261 per metric tonne, the LPG sale will fetch $10.44 million (N1.34billion).
According to the Managing Director of the NLNG, Mr Andrew Jamieson, the company would export LPG every six weeks and later on a monthly basis.
Two additional LNG plants including trains 4 and 5 are also to be constructed on Bonny Island, following the recent signing of the Final Investment Decision (FID).
This will boost Nigeria’s share of the global LNG market from seven to 13 percent.
Oil and Gas Industry
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