August 11, 2022

Deliveries from our terminals comply with regulatory requirements – NLNG

Deliveries from our terminals comply with regulatory requirements – NLNG

The Nigeria LNG Limited has clarified that deliveries of LNG from its Bonny Terminal comply with all regulatory requirements for the export of its products and are made under various LNG sales contracts to destinations not limited to Europe, but also to the Far East, Greater Middle East, North America and South America.

The company made the revelation in reaction to a news report earlier published by Vanguard on August 10 under the title: “How govt officials facilitated $1.2bn crude oil, gas theft – Source.”

A rebuttal statement issued on Thursday by the General Manager, External Relations and Sustainable Development of NLNG, Andy Odeh, said the company is a responsible corporate citizen operating its business according to strong business principles and ethics in accordance with requirements of relevant Nigerian and global laws and regulations.

The statement partly reads, “From the commencement of its operations in October 1999, NLNG has never, and does not, engage in “illegal” exportation of LNG or any of its products nor is NLNG involved in any international cartel, as alleged.

“It is simply not true that “… the illegal exportation is still ongoing with the backing of some top officials of the government”.

“The LNG trade undertaken by the Company is bound by strict protocols and controls, hence not amenable to the kind of illegitimate schemes alleged in the report.

“Contrary to the allegation of export of LNG without paperwork, records exist for every single cargo of product loaded by the Company since it commenced operations, together with fully accurate accounts of destinations, quantities loaded and unloaded and related earnings on each cargo, and these are demonstrable.

“For each of the past financial years which are periodically audited, including the periods alluded to in the report, the Shareholders of NLNG, which include NNPC Limited and three IOCs never reported that any cargo or product of the Company was lost or unaccounted for. Indeed, the possibility of such happening is beyond comprehension.

“For the avoidance of doubt, NLNG restates that the report paints a very incorrect picture of the Company’s business and its LNG trade and is at complete variance with the Company’s Vision as a globally competitive LNG Company helping to build a better Nigeria.”

Editor’s note:
Earlier, we published a story with the headline ‘How govt officials facilitated $1.2bn crude oil, gas theft – source’. We have since realised that the reporter didn’t follow due diligence. The report is hereby retracted and we apologise to Nigeria LNG Limited (NLNG), a firm we hold in high esteem.