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NLNG To Offer Two Additional Spot Cargoes For July

By on June 20, 2012

Nigeria LNG Ltd., Africa’s biggest exporter of liquefied natural gas, tendered to sell two additional cargoes of the fuel on the spot market next month, three people with knowledge of the matter said.

The first shipment is scheduled to load at Nigeria LNG’s Bonny Island plant in the Niger River delta from July 9 to July 10, the people said, declining to be identified because the information isn’t public. A second tanker is due to load July 20 to July 22, they said.

The shipments are worth more than $59 million each, based on the World Gas Intelligence spot prices published June 13 for northeast Asia of $17.85 a million British thermal units. Nigeria also offered cargoes on June 27, July 1 and July 5, people familiar with the tenders said last week.

The deadline for bids for both cargoes is tomorrow. Each shipment is for 140,000 cubic meters of LNG, the people said, citing tender documents.

Siene Allwell-Brown, a spokeswoman for Nigeria LNG in Lagos, couldn’t confirm the latest loadings when contacted today by telephone.

Nigerian National Petroleum Corp. owns 49 percent of Nigeria LNG, according to the company’swebsite. Royal Dutch Shell Plc (RDSA) has a 25.6 percent stake, Total SA (FP) owns a 15 percent share and Eni SpA (ENI) has 10.4 percent.