Nigeria Liquefied Natural Gas said yesterday that it had declared force majeure on its exports of liquefied natural gas as a blockade by Nigeria Maritime Administration and Safety Agency (NIMASA) over a tax dispute entered its second week.
The blockade, which has prevented liquefied natural gas tankers from accessing Nigeria LNG's loading terminal on Bonny Island since mid-June, is the result of a long-standing dispute over the payment of duties on freight and exports between the company and NIMASA
Nigeria Liquefied Natural Gas said yesterday that it had declared force majeure on its exports of liquefied natural gas as a blockade by Nigeria Maritime Administration and Safety Agency (NIMASA) over a tax dispute entered its second week.
The blockade, which has prevented liquefied natural gas tankers from accessing Nigeria LNG's loading terminal on Bonny Island since mid-June, is the result of a long-standing dispute over the payment of duties on freight and exports between the company and NIMASA
The company, which is a joint venture between Nigeria's state oil company, Royal Dutch Shell PLC (RDSA), France's Total SA (TOT) and Italy's Eni SpA (E), said in a statement emailed to the Wall Street Journal that it had declared force majeure effective from Friday, June 28.
A force majeure is declared when a company is unable to fulfill its contractual obligations to deliver exports due to circumstances beyond its control
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