A London court has ordered Nigeria LNG (NLNG) to pay $380 million in compensation to two major global commodity traders, Vitol and Glencore, after winning a legal battle against Nigeria’s sole liquefied natural gas producer.
According to a Reuter’s report quoting court documents, NLNG was ordered to pay the two companies for failing to deliver contracted LNG cargoes.
The international news network explained that the supply contract was between NLNG and another trading firm, Taleveras, in which the latter was supposed to receive 19 LNG cargoes from NLNG between 2020 and 2021.