Nigeria LNG Limited and Transgas Sign Sales and Purchase Agreement
Nigeria LNG Limited and Transgas (Sociedad Portuguesa de Gas Natural, SA), signed a new long-term Liquefied Natural Gas (LNG) Sales and Purchase Agreement on Thursday 17th June 1999, in Lisbon.
Under the terms of the agreement, Nigeria LNG Limited will supply Transgas 1.0 Billion cubic metres of gas on plateau per year for 20 years. The start of delivery is slated for 4th Quarter 20002.
The gas will be supplied on CIF basis from Nigeria LNG Limited's Third Train expansion, and will be delivered to Transgas' new LNG Receiving Terminal to be constructed at Sines, south of Lisbon.
Transgas signed its first agreement with Nigeria LNG Limited in July, 1998, for a volume of 0.35 Bcm/y, from Nigeria LNG Limited's first two liquefaction trains, which is on schedule to start deliveries in October 1999.
Joint Press Release signed in Lisbon, Portugal
June 17, 1999
