This marks My Terra’s first long-term SPA agreement with the African producer. The agreement calls for supply of 1 million year, starting from Q3 2021
My Terra signed on April 2020 its first LNG Sale and Purchase Agreement (SPA) with Nigeria LNG. On the basis of the long term agreement between My Terra and Nigeria LNG, My Terra will purchase LNG for a 3-year period starting October 2021 for an approximate annual volume of 1,000,000 tons.
The planned purchase will be an addition to existing LNG Contracts with other sellers, the SPA will bringing the total Northfield Group purchase quantity to approximately 2.5 million tons per annum. The planned new purchase is expected to contribute significantly to the stable supply to My Terra’s Asian and South American markets for the period after 2021.
About Nigeria LNG
NLNG is one of the largest suppliers of LNG with its natural gas liquefaction plant located in Bonny Island, Nigeria with the maximum production capacity of about 22 million tons annually.
About My Terra SA
My Terra Societtà Anonima is a Swiss commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas, power, biodiesel, base metals and agricultural products
Learn more at www.myterra.northfield-group.com.