Nigeria LNG Limited was incorporated as a limited liability company on 17 May 1989, to produce LNG and natural gas liquids (NGL) for export. The plant was built by TSKJ consortium, which was led by former Halliburton's subsidiary KBR. Other participants of the consortium were Snamprogetti, Technip and JGC Corporation. The first train came into operation in 1999.
Nigeria LNG Limited is jointly owned in the following proportions: Nigerian National Petroleum Corporation (NNPC) owns 49%, Shell Gas B.V. owns 25.6%, Total LNG Nigeria Ltd owns 15% and Eni International owns 10.4%.
Nigeria LNG Limited operates six liquefaction units (LNG trains) producing 22 million metric tonnes of LNG per year (mmtpa). This amounts to roughly 10% of the world's LNG consumption. Trains 1, 2 and 3 have production capacities of 3.2 mmtpa, whilst trains 4, 5 and 6 have capacities of 4.1 mmtpa each. The final investment decision on the train 7 has not yet been made.
The company has a wholly–owned subsidiary set up in 1989, Bonny Gas Transport (BGT) Limited, which provides shipping services for NLNG. BGT was set up in Bermuda with an ordinary equity holding from Nigeria LNG Limited and preferential equity holding from the sponsors, NLNG's shareholders. Another wholly owned subsidiary of Nigeria LNG Limited is Nigeria LNG Ship Manning Limited (NSML), which was set up in 2008 to give dedicated attention to providing, developing and managing high calibre personnel for NLNG’s maritime business.
The base project (Trains 1 and 2) which cost US$3.6 billion, was financed by NLNG's shareholders. The third train (expansion project), including additional storage, cost US$1.8 billion and was funded by shareholders as well as reinvested revenue from the base project. The NLNGPlus project (Trains 4 & 5) cost US$2.2 billion and was funded with a combination of internally generated revenue and third party loans amounting to US$1.06 billion. Train 6 (NLNGSix project) cost US$1.748 billion, financing was handled by shareholders. The total cost of building six LNG trains was US$9.348 billion.
Nigeria LNG Limited (in partnership with the Nigerian Academy of Science and the Nigerian Academy of Letters) sponsors The Nigeria Prize for Science and The Nigeria Prize for Literature.
There are investigations concerning alleged bribes of $180 million paid by the TSKJ consortium of engineering companies to Nigerian government officials (not Nigeria LNG staff) in the period 1994–2004 to obtain contracts worth more than $6 billion to win the contract to build Nigeria LNG facilities. KBR pleaded guilty, in February 2009, to paying bribes to Nigerian government officials to secure four contracts to build and expand the Nigeria LNG terminal. In Italy, Milan's prosecutors office has begun legal proceedings to bar Eni and Saipem, owners of Snamprogetti, from doing business with NNPC because of these alleged bribes paid by the TSKJ consortium to Nigerian government officials. Snamprogetti will pay $240 million in fines to avoid prosecution by the United States Department of Justice for violation of the Foreign Corrupt Practices Act. In addition, Eni and Snamprogetti will pay $125 million to settle a U.S. Securities and Exchange Commission case.
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- Bonny Gas Transport Limited (2009). "BGT Milestones". Retrieved 2009-11-02.
- Global Business Coalition (2010). "Nigeria LNG Ltd Company Profile". Retrieved 2010-09-15.
- Nigeria LNG Limited (2009). "Facts and Figures - Nigeria LNG". Retrieved 2009-11-02.
- Nigeria LNG Limited (2009). "Nigeria Prize for Literature (History and Guidelines)". Retrieved 2009-11-23.
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- "Duo to pay $365m in bribe case". Upstream Online (NHST Media Group). 2010-07-07. (subscription required). Retrieved 2009-11-08.