‘We’ll fulfil our contractual commitments’ — NLNG reacts to reports on concession lifting

The Nigeria Liquefied Natural Gas (NLNG) Limited says it will fulfil its contractual commitments, reacting to reports on lifting concession given to IOC shareholders over others.

Eyono Fatayi-Williams, NLNG’s general manager, external relations and sustainable development, stated this in a statement on Monday.

The statement followed various reports of lopsidedness and delay causing concerns in the LNG delivery to the local market despite increasing global demands.

TheCable had reported concerns in NLNG over the cancellation of cargoes and unnecessary deferrals.

The deferrals, defaults and cancellation of cargoes are creating an in-house crisis and market tension for the NLNG, according to a report by TheNation.

“There is disquiet within and from the market in NLNG over the cancellation of cargoes and unnecessary deferrals,” a source had said.

“This is one of the issues which the board and the new management need to address for a smooth take off.”

Reacting to the reports, NLNG said its supplies are in line with different Sales and Purchase Agreements (SPAs) with its buyers and complies with all existing local and international regulations.

“Following some recent reports in the media, NLNG wishes to clarify that as a major player in the global LNG industry, it is focused on fulfilling its contractual commitments,” the statement reads.

“NLNG supplies in line with the different Sales and Purchase Agreements (SPAs) with its buyers and complies with all existing local and international regulations.

“Furthermore, the Company operates its business openly and transparently, according to world-class standards and industry best practices.

“NLNG is fully committed to sustaining its reputation of being a trusted and reliable supplier of LNG globally and will not take any action to endanger this commitment.”