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Declares commitment to best business practices
Sopuruchi Onwuka
Africa’s biggest natural gas liquefaction company, the Nigeria LNG Limited, has restated its commitment to best global business practices, declaring that it has no tolerance for cartelized, sharp and shady transactions.
General Manager, External Relations & Sustainable Development, Mr Andy Odeh, stated that deliveries of LNG from the company’s Bonny Terminal comply with all regulatory requirements for the export of its products.
He said the company’s gas exports “are made under various term and spot sales contracts to destinations not limited to Europe, the Far East, Greater Middle East, North America and South America, thus ensuring NLNG’s position as a significant competitive global LNG supplier, promoting the Nigerian Brand.”
The statement from Mr Odey on Thursday came in response to a story he said was published by Sahara Reporters alleging that “top officials In Nigerian Corporations, NLNG, NNPC Operate International Cartels, Illegally Ship Over $1billion Oil To US, South American Countries.”
Mr Odey deplored the report as false and malicious and fictitious.
“Clearly, the report is at best a figment of the writer’s imagination. Either the author of the report was simply being mischievous, or is totally deficient in knowledge of the dynamics of the global LNG industry,” he said.
In setting the records straight, Mr Odey stated that NLNG operates its business according to strong business principles and ethics in accordance with requirements of relevant Nigerian and global laws and regulations.
“From the commencement of its operations in October 1999, NLNG has never, and does not, engage in “illegal” or “backdoor” exportation of LNG or any of its products, nor is NLNG involved in any international cartel, as alleged. It is simply not true that “… the illegal exportation is still ongoing with the backing of some players in NLNG”. The LNG trade undertaken by the Company is bound by strict protocols and controls, hence not amenable to the kind of illegitimate schemes alleged in the report.
“Contrary to the allegation of export of LNG without paperwork, records exist for every single cargo of product loaded by the Company since it commenced operation, together with fully accurate accounts of destinations, quantities loaded and unloaded and related earnings on each cargo, and these are demonstrable. For each of the past financial years, including the periods alluded to in the report, the Shareholders of NLNG, which includes NNPC and three IOCs, never reported that any cargo or product of the Company was lost or unaccounted for. Indeed, the possibility of such happening is beyond comprehension.
“For the avoidance of doubt, NLNG restates that the report paints a very incorrect picture of the Company’s business and its LNG trade and is at complete variance with the Company’s Vision as a globally competitive LNG Company helping to build a better Nigeria.
“NLNG demands an immediate retraction of the false and malicious report in its entirety, in addition to an apology, which must be given as much prominence as the original report. The legal rights of NLNG and its impacted personnel are fully reserved,” he declared.
