NLNG Denies Any Hand in Online Report of Illegal Shipment of $1bn Gas to US

0 174

……….Describes Online Report as False, Malicious

LNG Limited (NLNG) has denied any hand in the alleged exportation of liquefied natural gas outside the shores of the country by the company.

The spokesman of NLNG, Mr. Andy Odeh, while clearing the air over a recent online report that linked NLNG to illegal shipment of over $1billion oil to the United States of America and South American countries, described the report as “false and malicious.”

According to him, the report is a calculated attempt to cast the company and its leadership in bad light, saying that the company was never given an opportunity to respond to the allegations prior to their publication.

“Clearly, the report is at best a figment of the writer’s imagination. Either the author of the report was simply being mischievous, or is totally deficient in knowledge of the dynamics of the global LNG industry,” Odeh said.

He said that all deliveries of LNG from its Bonny Terminal complies with regulatory requirements for the export of NLNG’s products, and that the deliveries are made under various term and spot sales contracts to destinations not limited to Europe, the Far East, Greater Middle East, North America and South America, thereby maintaining NLNG’s position as a significant competitive global LNG supplier and promoting the Nigerian brand.

Odeh said that “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 operation, 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, including the periods alluded to in the report, the shareholders of NLNG, which includes NNPC 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,” he added.

According to him, NLNG 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.

He noted that “From the commencement of its operations in October 1999, NLNG has never, and does not engage in illegal or backdoor exportation of LNG or any of its products, nor is NLNG involved in any international cartel, as alleged. It is simply not true that illegal exportation is still ongoing with the backing of some players in NLNG,“ the spokesman said.

By Sunday Elom

[email protected]

Be the first to know when we publish an update

Leave a Reply