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Wednesday, March 22, 2017

Nigeria LNG Records 50 Vessel Charters

March 18, 2017

Photo: Nigeria LNG Limited

Photo: Nigeria LNG Limited

 Since its first day of operations in May 17, 1989, the Nigeria LNG Limited (NLNG)  has recorded no fewer than 45 vessels chartered-in and five chartered out, said a report in ThisDay.

 
The chartered-in including liquefied natural gas (LNG), liquefied petroleum gas (LPG) and condensate carriers for shipment of its products to buyers across the globe. The chartered-out of its own vessels is for other operators in the market.
 
The company’s assets are now worth over $13bn, a press release from NLNG quoted Tony Attah, Managing Director as saying. He said the NLNG had been able to generate $85bn in revenue.
 
The company has positioned itself for the emerging marketing in the shipping sector of the economy just as it  has revamped is chartering structure designed to optimise available shipping capacity in its operations.
 
The company is owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%); Shell (25.6%); Total LNG Nigeria Ltd (15%) and Eni (10.4%). 
 
It has wholly–owned subsidiaries: Bonny Gas Transport (BGT) Limited and NLNG Ship Management Limited (NSML).
 
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