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HomeMaritime NewsRegionsMiddle East & AfricaNigeria LNG raising $1.6bn for six ships

Nigeria LNG raising $1.6bn for six ships

Nigeria LNG raising $1.6bn for six ships
Lagos: Nigeria Liquefied Natural Gas Company (NLNG) agreed with two banks to secure $1.6bn in funding for six LNG carriers.

BNP Paribas and GT Bank will structure the medium to long term arrangement, with an expected close in March 2013.

The six 170,000 – 180,000 cbm carriers are expected to be delivered between 2015 and 2016 by Samsung Heavy Industries and Hyundai Heavy Industries.

NLNG announced in January 2012 that it had approached global banks for a minimum $1bn loan for the ships, which are expected to be operated by wholly owned subsidiary Bonny Gas Transport and crewed by Nigeria LNG Ship Manning Limited.

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