Nigeria’s Brass LNG project faces restructure

Stakeholders in Nigeria’s proposed Brass LNG plant will need to reallocate Conoco’s old shares in the project before they can revive the venture
By Miriam Malek 31 March 2017
Nigeria’s Bonny Island LNG plant. The country’s proposed Brass facility has run into problems. (Shell)

Nigeria’s Brass LNG is facing a complete restructure as stakeholders attempt to revive the project, which has been at a standstill since 2013. The allocation of ring-fenced shares is a key problem needing to be resolved.

United States-based ConocoPhilips left the planned 10 mpta project in 2014, when it sold off all its Nigerian assets. Since then, the shares have been ring-fenced by the Nigerian government and remain unallocated.

Reviving the project means Conoco’s shares will need to be reallocated to a different shareholder – which will...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up