NLNG Pays Off Shareholders’ $5.45bn Borrowed to Build Six LNG Trains

Chineme Okafor in London

A total of $5.45 billion taken from shareholders by the Nigerian Liquefied Natural Gas (NLNG) to build its six existing LNG trains have been fully paid without any default, the Chairman of the the NLNG board, Dr. Osobonye LongJohn, has disclosed.

LongJohn made the disclosure on Wednesday in London, where the company held a meeting with its shareholders and investors to commemorate the loan repayment.

He also said the repayment included interests on the loan obtained to build the 22 million metric tonnes per annum (mmtpa) LNG plant.

The NLNG has as its shareholders the Nigerian National Petroleum Corporation (NNPC), which owns 49 per cent of its shares; Shell Gas B.V (SGBV), which owns 25.6 per cent; Total, which owns 15 per cent; and Eni, which owns 10.4 per cent.

More to follow…