Finance

Trains 1 & 2

Train 3

Trains 4 & 5

Train 6

Train 7

Trains 1 & 2

(Base Project)

The Base Project, comprising Trains 1 and 2, was completed for $3.6 billion, fully financed by NLNG’s shareholders. This foundational phase set the stage for NLNG’s growth, establishing the company as a key player in the global LNG market.

Train 3

(Expansion Project)

Train 3, an expansion project costing $1.8 billion, was funded through a mix of new equity contributions from shareholders and reinvested revenue from Trains 1 and 2. Third-party financiers covered much of the cost for new LNG tankers. The project secured $1.06 billion in loans, including ECA-backed facilities and an African Development Bank facility, marking the largest industrial loan in Sub-Saharan Africa at the time.

Trains 4 & 5

(NLNGPlus Project)

The NLNGPlus Project, costing $2.2 billion, was financed through internally generated revenue and third-party loans totaling $1.06 billion. This included ECA-guaranteed loans, uncovered international and Nigerian commercial bank loans, and an African Development Bank facility. All loans were fully repaid by December 2010.

Train 6

Train 6, with a project cost of $1.748 billion, was primarily funded through internally generated funds. The Final Investment Decision (FID) was taken in July 2004, and the train became operational in December 2007, further solidifying NLNG’s position as a global LNG leader.

Train 7

Train 7 is being financed through a combination of NLNG’s balance sheet and a $3 billion multi-sourced finance deal involving 30 institutions, including Export Credit Agencies, Development Financial Institutions, and international and Nigerian banks, reflecting strong global confidence in NLNG’s financial credibility.

Milestone Loan Repayment

In December 2017, NLNG achieved full repayment of its $5.45 billion Shareholder Loan facility, spanning over two decades without a single default. All principal and interest repayments were made without default. The consolidated loan financed various phases, including the Base Project, Expansion Project, NLNGPlus, and Train 6.

Important Notice

NLNG wishes to remind the public and all stakeholders that official information, announcements, and opportunities are published exclusively through our verified website and authorised communication channels. We do not solicit payments or offers for sensitive information through informal means, third-party websites, or unverified social media accounts. If you receive any suspicious communication claiming to be from NLNG, please verify directly via our Contact page or report it to: info@nlng.com.