Bloomberg News

Nigeria LNG in Talks for $1 Billion Funding for Shipping Unit

January 30, 2012

Jan. 27 (Bloomberg) -- Nigeria Liquefied Natural Gas Ltd. is in talks with international bankers to raise $1 billion in funds to boost the LNG tanker fleet of its shipping subsidiary, Bonny Gas Transport Ltd., a company official said.

A financial adviser for the transaction “would be appointed in about a month,” Ifeanyi Mbanefo, a spokesman for the Lagos-based company, said today in an e-mailed response to questions without giving further details.

To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at ebalagbogbo@bloomberg.net

To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net


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