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UPDATE 1-Nigeria LNG exports blocked over tax dispute

Sat, 22nd Jun 2013 17:39

ABUJA, June 22 (Reuters) - Nigeria is being prevented fromexporting liquefied natural gas (LNG) after a maritime securityagency blocked and detained ships over a tax dispute, thestate-LNG company (NLNG) said on Saturday.

The Nigerian Maritime Administration and Safety Agency(NIMASA) on Friday stopped an LNG tanker from leaving the exportterminal and prevented another from entering, NLNG said.

NIMASA also issued ship detention orders on Saturday forthree LNG vessels, the state firm said. NIMASA did notimmediately respond to request for comment.

The Nigerian National Petroleum Corporation owns 49 percentof NLNG with Shell holding 25.6 percent, Total 15 percent and Eni 10.4 percent.

"The potential implications of this current action by NIMASAon NLNG operations are enormous," a statement from NLNG said.

"(It) impacts negatively on international LNG buyers, theinternational financial market ... its shareholders and theinvestment climate in Nigeria," it added.

LNG exports were delayed for two days in May by NIMASA,which says Nigeria LNG has not been paying enough tax.

NLNG says it subsequently paid NIMASA $20 million to keepexports flowing and went to court to fight against paying whatit says are unlawful levies.

Nigeria ships over 250 cargoes of LNG a year, contributingaround 7 percent of global supply and accounting for 4 percentof GDP in Africa's second largest economy, NLNG says.

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