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NIGERIA - The LNG Price.

NLNG uses its own tankers in all sales. Its CIF price is tied partly to crude and fuel oil prices and to the value of coal in West Europe, plus an environmental premium. The price formula was first agreed upon between NLNG and Enel in 1991. Most sale/purchase MoUs were signed with the other clients on that basis subsequently.

The spot price of surplus LNG occasionally could be less than the term formula. But now the spot price is higher than term prices because of high US demand. In the term deals, NLNG has the option to raise or lower contracted volumes by 5%.
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Publication:APS Review Gas Market Trends
Date:Aug 18, 2003
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