Middle East & Africa Price trends
The proposed additional tax on Nigeria LNG Ltd could increase the price of LNG offered by Nigeria on the international market.
Nigeria’s House of Representatives passed a bill in May seeking to amend the Nigeria LNG Limited Act to make the company pay the 3% Niger Delta Development Commission levy. There is a strong likelihood the Senate will pass the bill.
NLNG believes the tax will hinder operations at the liquefaction plant’s existing six trains and discourage foreign investment, including that needed to build trains 7 and...