Nigeria LNG Appoints BNP Paribas, GT Bank to Raise USD 1.6 Billion

Nigeria LNG Appoints BNP Paribas, GT Bank to Raise USD 1.6 Billion

Nigeria Liquefied Natural Gas Company (NLNG) has appointed BNP Paribas and GT Bank as financial advisers to raise around $1.6 billion to buy six LNG tankers, Reuters reported citing a banking source.

The source said the loan was being structured as a medium to long term financing and that final tenor and pricing will be based on demand with financial close expected by the end of March 2013.

Nigeria LNG Limited is a jointly owned enterprise in the following proportions: Nigerian National Petroleum Corporation (NNPC) owns 49%, Shell Gas B.V. owns 25.6%, Total LNG Nigeria Ltd owns 15% and Eni International owns 10.4%.

NLNG has a capacity to produce 22 million metric tonnes of LNG per year.

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LNG World News Staff, February 20, 2013; Image: NLNG