State oil company Nigerian National Petroleum Corp (NNPC) on Friday said it had endorsed a $2.5-billion prepayment agreement with Nigeria LNG (NLNG) for upstream of gas development activity.
NLNG, which yields liquefied natural gas (LNG) for export, is owned by state-run Nigerian National Petroleum Corporation (NNPC) & overseas energy organization Royal Dutch Shell, Total and ENI.
Nigeria was the fifth greatest LNG producer in the world last year. NLNG operates six LNG processing units, familiar as trains, on Bonny Island.The pre-payment agreement is “for upstream gas expansion projects to supply trains 1-6”, NNPC said on Twitter.
Earlier this month NLNG said it had driven closer to an investment decision on the long-awaited Train 7 project to expand its liquefied natural gas plant on Bonny Island.
