| Total announces that its wholly owned subsidiary Total Gas & Power Ltd (TGP), and Nigeria LNG Ltd (NLNG) signed yesterday in London a sales and purchase agreement relating to the supply of 1.2 billion cubic metres per year of liquefied natural gas produced at the Bonny LNG plant. The LNG deliveries will start in 2007 for a duration of 20 years.
"This agreement marks an important step in developing Total's downstream LNG activities in the Atlantic Basin," said Yves-Louis Darricarrere President of Total Gas and Power.
Through TGP, the gas and electricity trading and marketing arm of Total, the LNG will be distributed to various gas markets in Europe and North America.
With three trains in operation, two trains under construction and one additional train under development, the Bonny liquefaction plant operated by NLNG is set to become one of the world's largest LNG plant. Total holds a 15% stake in NLNG.
Total, already active in the fast growing spot LNG trade, intends to support the future growth of its LNG activities by continuing to expand its own portfolio of LNG sources and outlets. |
