The past Managing Director and Chief Executive Officer, Nigeria Liquefied Natural Gas Limited (NLNG), Babs Omotowa, yesterday revealed that NLNG lost $475 million when Nigerian Maritime And Safety Agency, NIMASA, blocked its export from Bonny Island for 22 days. Omotowa, however, expressed delight over the ruling of the Federal High Court, vindicating his company, but […]
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The Rivers State government and Nigeria’s leading indigenous energy company, Oando PLC, are closing in on the completion of an 8.5 kilometres expansion of the natural gas distribution network in the Port Harcourt Franchise Area from the Above-Ground Installation (AGI), in Trans-Amadi, to BUA Sugar Refineries (BUA). The project is being executed by the Central […]
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Global Liquefied Natural Gas (LNG) demand will likely reach 280 million tonnes per annum (MMTPA) in 2017, the largest year-on-year growth since 2011, Bloomberg News Energy Finance said in its latest research report on global LNG outlook. According to the report, the surge is driven by uncertainty of nuclear power generation in Northeast Asia, energy […]
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India get a price cut on a 20-year liquefied natural gas (LNG) deal with global giant ExxonMobil Corp in a rare contract renegotiation, a bad sign for global producers in a heavily oversupplied market. Long-term contracts are rarely revised in the LNG market, and for a big producer to cave in shows how supply from […]
Read More The global glut plaguing liquefied natural gas markets may start to dwindle in five years, threatening to spur a deficit equivalent to twice the output of leading producer Qatar. The World’s Biggest LNG Capacity Holders and Producers 2017 Top 10 2020 Top 10 2035 Top 10 Qatar Australia U.S. Australia Qatar Australia Malaysia U.S. Qatar […]
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Amid reservations by some people about the recently signed 20-year Gas Sales Aggregation Agreement (GSAA) between the Nigerian National Petroleum Corporation (NNPC) and Total Joint Venture and the Greenville LNG Limited, the project has been described as the greatest thing to happen to Nigeria’s gas sector in recent times. Chairman of Greenville, Mr. Eddy van […]
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The Nigeria LNG Limited says it has no outstanding dividend payments to the Federal Government and continues to conduct its business in accordance with regulations and the laws of the Federal Republic of Nigeria. The company said in a statement on Sunday that its attention had been drawn to call by the Nigerian Extractive Industries […]
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The Nigeria Liquefied Natural Gas Limited, NLNG, paid $489.226 million, about N151.6 billion, in various forms of taxes to the Federal, States and Local Governments in 2016. NLNG stated this in its financial statement for the year ended, December 31, 2016, in a report section titled: ‘Facts and Figures on NLNG 2017.’ According to the […]
Read More The world’s biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Korea Gas Corp (KOGAS) said on Thursday it had signed a memorandum of understanding in mid-March with Japan’s JERA and China National Offshore Oil Corp (CNOOC) […]
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