When did NLNG commence export of its products?
NLNG commenced export of products in October 1999.
Where are NLNG’s products sold?
All of the LNG and most of the NGLs (LPG and Condensate) currently produced are exported to international markets (Europe, Far East, the Americas, and the Middle East). Some LPG is specifically dedicated for and sold into the Nigerian market. NLNG remains commited to taking its products to new locations and it continues to actively explore such opportunities.
Who are the buyers of NLNG’s products?
LNG is currently sold to 11 different buyers under long term Sales and Purchase Agreements (SPAs). Excess LNG is sold via competitive spot Free on Board (FOB) tenders involving pre-qualified counterparties.
How are NGLs sold?
NGLs are sold via competitive spot FOB tenders involving pre-qualified counterparties. Domestic LPG (DLPG) is sold via short term (1 year) Delivered Ex Ship SPAs.
Why and when did NLNG commence the supply of LPG into the Nigerian market?
NLNG commenced the supply of LPG to the Nigerian domestic market in 2007. This initiative started as part of NLNG’s commitment to contribute significantly to the stimulation of the domestic LPG sector and overcome gross shortage of the product at a time. The scheme commenced with the dedication of 150,000 Metric Tonnes Per Annum (mtpa) to the local market and with the first delivery to the Apapa jetty in December 2007. Since then, the NLNG domestic LPG scheme has enjoyed outstanding success with NLNG’s intervention leading to a significant reduction in the end user price of LPG in the Nigerian market, as well as guaranteeing supply to the market and the attendant stimulation of demand. This success has also led to the increase of the dedicated volume to 250,000 mtpa in 2013.??