LAGOS, Feb 20 (Reuters) – Nigeria Liquefied Natural Gas Company (NLNG) has appointed France’s BNP Paribas and GT Bank to help raise around $1.6 billion for six LNG carrier ships, a banking source close to the deal said on Wednesday.
The company, which is majority owned jointly by the state oil company NNPC and Royal Dutch Shell, told Reuters a year ago it had contacted global banks to appoint advisers in other to explore the best option to raise funds.
The banking source said the loan was being structured as a medium to long term financing with the close expected by the end of March 2013.
NLNG had said last year it would seek loans from the international market to expand the operations of its shipping subsidiary Bonny Gas Transport Limited, which currently has 24 LNG ships.
The company was set up over two decades ago to harness Nigeria’s natural gas resources and produce liquefied natural gas and natural gas liquids for export.
It has long-term supply contracts with buyers in Italy, Spain, Turkey, Portugal and France and also sells on the spot market.
NLNG has a capacity to produce 22 million metric tonnes of liquefied gas a year. It obtains its gas supply from the upstream oil companies and liquefies it for export.
ROME (Reuters) – An Italian judge on Friday cleared three migrant sea rescue charities that had been accused of abetting irregular immigration in complicity with human traffickers, throwing out a case opened...
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
April 18, 2024
Total Views: 1545
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.