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Nigeria Lng Limited News

11 Oct 2021

Höegh LNG CEO Støhle Resigns

Höegh LNG announced on Monday that its president and CEO Sveinung J. S. Støhle is resigning to purse a career outside of Norway.The Norwegian shipowner said Støhle gave his resignation notice on October 9 and that he will remain in his role until November 1.Thor Jørgen Guttormsen will act as interim president and CEO effective November 1 and until a permanent successor is appointed.An  LNG industry veteran with more than 25 years of experience in shipping and oil and gas, Støhle has worked for Höegh LNG since 2005. He served as director and chairman of the board of directors of Höegh LNG Partners LP since April 2014 but stepped down as a chairman when assuming the position as CEO of Höegh LNG Partners LP since August 2020.

13 Sep 2019

SCD JV Win $10bln NLNG Train7

The Nigerian Liquefied Natural Gas Company (NLNG) signed a “letter of intent” with SCD JV as preferred bidder to construct the $10bn NLNG Train 7 project.SCD JV  is a joint venture consortium comprising Saipem, Chiyoda and Daewoo."SCD JV is the preferred bidder for  the contract for the Engineering, Procurement & Construction of the Nigeria LNG Train 7 Project after a competitive FEED contract," said NLNG.The intended award of the EPC contract is conditional upon the approval of Nigeria LNG Limited’s board of directors and shareholders, the approval of any governmental or regulatory authorities, the achievement of any conditions precedent…

18 Mar 2017

Nigeria LNG Records 50 Vessel Charters

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…

27 Apr 2016

Nigeria's LNG Export Falls

Babs Omotowa, Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), has raised alarm over Nigeria’s dwindling investments in Liquefied Natural Gas (LNG), according to a report in Thisday. He noted that with no new investments, Nigeria would possibly drop from her current position of the 4th world’s largest exporter of LNG to 10th position by 2020. NLNG had earned $90 billion revenue since 1999 and that it has elevated Nigeria to number four exporter of LNG in the world, after Qatar, Malaysia and Australia. Omotowa, however, said with no new investments to support Nigeria’s position in the global LNG market, the country’s position would possibly drop to 10th by 2020. NLNG posted a 36.6% drop in its revenue in 2015 due to declining oil and gas prices.

14 Mar 2016

Wärtsilä, Nigerian BGT Ink Maintenance Deal

Wärtsilä has signed a five-year maintenance agreement with the Nigerian gas transportation company Bonny Gas Transport Limited, (BGT), a subsidiary of Nigeria LNG Limited. Wärtsilä will monitor and service the engines on board the BGT's six new LNG carriers and deliver spare parts, as well as expertise for inspections and major service overhauls. The contract marks the beginning of a new era of cooperation between Wärtsilä and BGT, and is the first of its kind for Wärtsilä in Africa. Nigeria LNG Limited exports most of its cargo to the European Asian markets. The six LNG carriers are equipped with five Wärtsilä 50DF engines each and operate primarily on gas.

27 Feb 2002

Bergensen Makes Final Negotiations on LNG Contract

Bergesen has agreed with Nigeria LNG Limited (NLNG) on a preliminary agreement for the employment of four LNG-carriers for a minimum of 20 ½ years from delivery. Final contract is subject to NLNG making its final investment decision on its further extension called NLNG Plus. Subject to same investment decision, Bergesen will enter into an agreement with Daewoo Shipbuilding & Marine Engineering Co. Ltd., Korea, to build the vessels. Delivery shall take place in first, third and fourth quarter 2005, and in first quarter 2006. Total project price will be about $710 million, including interest and other expenses during construction period. The agreement is based on four vessels of 140.500 cbm each, but the vessels' capacity can be increased to 145.000 cbm at NLNG's option.

07 May 2002

Bergesen Makes Preliminary LNG Agreement

Bergesen has entered into a preliminary agreement with the Algerian oil company Sonatrach for employment of one LNG-carrier for minimum 20 years from delivery. Sonatrach has an option to extend the agreement by maximum five years. The vessel is the third vessel in a series of seven large LNG-carriers ordered by Bergesen at Daewoo Shipbuilding & Marine Engineering Co. Ltd, Korea. The vessel shall be delivered in third quarter 2004. Sonatrach will participate with an ownership share of 50 percent in the vessel with effect from delivery from the yard, but the vessel will be 100 percent financed by Bergesen. Final agreement with Sonatrach is expected to be concluded in the near future.