Business

Nigeria LNG signs 20-year gas supply agreement with NNPC

Isaac UmunnaComment(0)

Nigeria LNG said on Friday it has signed a 20-year gas supply agreement with state-owned oil firm NNPC for the long-awaited Train 7 project to expand its liquefied natural gas plant on Bonny Island.

The company expects to sign a similar agreement with international oil firms Shell, Total and Eni, it said twitter.

The signing is one of the critical conditions precedents to a final investment decision on Train 7, LNG said.  Reuters

 

Isaac Umunna

Related Articles
Business

Nigeria to issue 150 billion naira worth of Sukuk this year

Isaac Umunna

Nigeria plans to issue Sukuk bonds worth 150 billion naira ($490 mln) on the local market this year, the Debt Management Office said on Friday. The debt office said the funds would be used for road projects. ($1 = 306.40 naira). Reuters
Business

Defunct Skye Bank’s directors being probed for insider abuse, others — NDIC

Isaac Umunna

The Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria are monitoring the investigations by law enforcement agencies against the directors and management of the failed Skye Bank Plc. The move is to determine their culpability in the failure of the bank. The Managing Director and Chief Executive of the NDIC, Umaru Ibrahim, said […]
Business

Reps to investigate over $30b annual revenue leakage

Isaac Umunna

The House of Representatives is to investigate an alleged loss of over $30 billion annually as a result of revenue leakages arising from tax evasion, malpractices, misuse and diversion of foreign exchange allocations by companies and other entities. The House at its plenary adopted a motion to investigate the disbursement of foreign exchange by the […]