The Nation Newspaper Train 8: Nigeria LNG expansion plans may be threatened by contract breaches
is currently challenging the enforceability of an arbitral award’s demand order issued by a United Kingdom arbitration panel despite a contractual provision that makes an award by the arbitral tribunal final and binding.
According to a media report, Shell Chief Executive Wael Sawan is “very disappointed” with U.S. player Venture Global LNG over the non-delivery of contractual gas volumes from its Calcasieu Pass export project in Louisiana. The long-term commitment that foundation buyers make enables the regulatory certainty, financing and development of LNG projects.
Managing Director of NLNG, Mr Phillip Mshelbila who is seconded from Shell, had stated during a visit to the NLNG plant in Bonny Island, Rivers State, that recent events such as the Russian/Ukraine conflict, have ushered in a wave of new developments in the LNG sector.
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