Nigeria’s biggest LNG producer hopes to raise $10 billion
Topics: NIGERIA LNG
The company is hoping to raise $2bn from domestic lenders such as the Guaranty Trust Bank and Zenith Bank, and is looking to foreign lenders, backed by export-credit guarantees, for the rest, the World Oil website reports.
If the fund-raising drive is successful, the company intends to build the gas plant’s seventh train, expected to boost output by 40%.
This train train is expected to cost $7bn to build, with another $3bn going on pipelines and other supporting infrastructure.
When complete, in five years’ time, output is expected to reach 30 million tonnes a year, an increase of 8 million tonnes. ■