Nigeria Needs $12 Billion to Avoid Missing the LNG Boat

By Paul Wallace, Paul Burkhardt and Elisha Bala-Gbogbo (Bloomberg) -- On a tropical island just off the coast of Nigeria, hundreds of engineers work around the clock to produce liquefied natural gas at a plant the size of Lower Manhattan. Operator Nigeria LNG Ltd. says it will decide later this year whether to invest more than $10 billion to boost capacity by 40 … [Read more...]

Nigeria’s First Major Shipyard Project Receives $1.5 Billion Investment

By Chijioke Ohuocha LAGOS, June 19 (Reuters) - Nigeria Liquefied Natural Gas Company (NLNG) is sponsoring the construction of the first major ship yard in Africa's biggest economy at the cost of $1.5 billion, in its attempt to turn the country into a hub for maritime operations on the continent. Nigeria is the world's eighth biggest crude producer and Africa's top oil … [Read more...]

Nigeria LNG to Pay $140 Million to End Gas Shipments Blockade

By Yinka Ibukun and Elisha Bala-Gbogbo July 12 (Bloomberg) -- Nigeria LNG Ltd., Africa’s biggest liquefied natural gas exporter, agreed to pay $140 million in disputed levies to the country’s maritime agency to end a three- week blockade of shipments from its export terminal. The Nigerian Maritime Administration and Safety Agency “will immediately … [Read more...]

Nigerian Court Again Orders End to Blockade of LNG Ships

LAGOS, July 8 (Reuters) - Nigeria's federal court in Lagos reiterated an order for the maritime security agency to end a blockade of Nigeria's liquefied natural gas company (NLNG) ships that is costing an estimated $22 million a day, a lawyer said. Justice M.B. Idris rejected an application against the ruling, lawyer for NLNG Tola Oshobi told Reuters outside the court, after … [Read more...]

Nigeria LNG Expecting Court Ruling On Costly Blockade

By Tim Cocks and Oleg Vukmanovic LAGOS/LONDON, July 5 (Reuters) - Nigeria's liquefied natural gas company (NLNG) is expecting a ruling on Friday on a tax dispute with the maritime security agency, whose blockade of its ships has cost $22 million a day for the past two weeks, according to an economist's estimate. Since June 21, the Nigerian Maritime Administration and … [Read more...]