Nigeria LNG Seeks $10B Funding To Expand

The operator of Africa’s biggest natural gas plant, Nigeria LNG, is seeking a loan of US$10 billion from domestic and international lenders to expand its operations with a seventh train, the company’s chief executive Tony Attah told Bloomberg in an interview. Nigeria LNG signed earlier this week a letter of intent (LOI) for the Train 7 engineering, procurement and construction (EPC) contract. SCD Group is the preferred bidder for the Train 7 project, Attah said at the signing ceremony. “With the signing of the LOI we hope that…