Nigeria Liquefied Natural Gas Company (NLNG) is expected to sign
agreements with South Korea’s Samsung Heavy Industries and Hyundai to acquire
six LNG carrier ships, two sources close to the deal said on Thursday.
France’s BNP
Paribas and Nigeria’s GT Bank are brokering a $1.6 billion loan to help fund
acquisition of the vessels and expect to sign the financing documents next
week, a banking source said.
The banking source
said the loan would be medium-to-long term, with the deal expected to be sealed
by the end of March.
Samsung and
Hyundai could not be reached immediately for comment.
A spokeswoman for
BNP Paribas said it does not normally comment on transactions with clients
NLNG, which is
majority owned jointly by Nigeria’s state oil company NNPC and Royal Dutch
Shell, said last year it would seek international loans to expand the
operations of its shipping subsidiary Bonny Gas Transport Limited, which
currently has 24 LNG ships.
NLNG was set up
more than 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 tonnes of liquefied gas a year. It obtains its gas supply from the upstream oil companies and liquefies it for export.
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