NLNG to take delivery of $1.41b vessels

By Vessels

The Nigeria Liquefied Natural Gas Limited (NLNG) will this month receive the last of the six new vessels it bought for the transportation of liquefied natural gas (LNG) to various parts of the world, says a report in The Nation.

Five of the six vessels were already delivered between November last year and March this year, said NLNG Managing Director, Babs Omotowa.

NLNG to take delivery of $1.41b vessels

He added that the acquisition of the new ships became imperative as Train plant approaches nameplate capacity and LNG cargoes currently delivered to distant destinations across the world increases in response to changing business opportunities.

To meet this demand, he said an arm of the NLNG, the Bonny Gas Transport, in 2013, ordered six new dual fuel diesel engine (DFDE) vessels to be constructed by Hyundai Heavy Industries (HHI), while Samsung Heavy Industries (SHI) was ordered to build four.

Financing for the six vessels, according to him, was arranged in two programmes: a-$310 million six-year additional programme debt (APD) facility and a-$1.1 billion 12-year new vessel debt (NVD) facility.