Galp says contract renegotiations are underway with NLNG

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Pedro Ricardo, executive director for supply and trading at Portugal’s Galp, one of the first companies with Nigeria LNG contracts expiring, has said talks on their renegotiation are “at the early stages”, Natural Gas World reports.

It would be recalled that the Nigeria LNG Limited was said to have begun talks with potential buyers of Liquefied Natural Gas (LNG) that will replace some of the existing customers whose current contracts will expire by 2022. The company is seeking buyers on new contracts for gas supplies from Trains 1, 2 and 3, which collectively produce nine million tonnes of LNG a year.

Reuters quoted a senior official of the company as saying at the Gastech trade conference in Chiba outside Tokyo, Japan that initial responses from buyers had been positive. Buyers of volumes in the three trains with expiring sales and purchase agreements (SPAs) include: Enel, Gas Natural Fenosa, Galp, Engie Global LNG, and Botas.