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NLNG, NNPC Seek $ 4 Billion in International Debt Financing

By on January 25, 2012

The Nigerian Liquefied Natural Gas (NLNG) and the Nigerian National Petroleum Corporation (NNPC) are seeking international debt financing to finance part of their operations in 2012.

NLNG is seeking over $ 1 billion to finance the acquisition of new LNG tankers. According to a Reuters report, “NLNG is receiving proposals for a $1 billion-plus syndicated loan that will enable it to purchase new LNG tankers, with potential sponsorship from National Nigerian Petroleum Corporation (NNPC), ENI, Shell and Total , a banker close to the deal said.”

Also NNPC seeks $ 1.5 billion to allow it develop some offshore fields it operates in  a joint-venture with ExxonMobil. This transaction is expected to close by end of January.

NNPC is also seeking a further $1.5 billion, and is already in discussions with foreign bankers to obtain the facility.

2 Comments

  1. Anonymous

    January 25, 2012 at 11:37 am

    WITH THIS REPORT .

    AND THE UNTIMELY AND STRANGES CHANGES OF PRINCIPAL OFFICERS IN NLNG .

    THE SEARCH LIGHT WILL VISIT NLNG FACILITIES ,PORT HARCOURT AND BONNY ISLAND .

    WITH THE DAILY LOADING OF GAS AT THE JETTY ,1 SHIPMENT COST AT LEAST 18MILLION DOLLARS .
    WHY ON EARTH WILL NLNG BE LOOKING FOR MONEY ??????.

    i STRONGLY SENSE THESE CROOKS IN NNPC HAVE STARTED BALANCING EQUATIONS FROM NLNG ACCOUNTS .

    EFCC , NATIONAL ASSEMBLY THE BREEZE IS BLOWING

  2. Anonymous

    January 25, 2012 at 11:40 am

    AN EYE WILL BE KEPT FOR THERE INTERNATIONAL COUNTERPARTS .

    THIS IS NO MORE BUSINESS AS USUAL PERIOD