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. Taleveras had reportedly pre-sold some of these shipments to Vitol and Glencore, but when NLNG failed to deliver, the two companies sued Taleveras, setting off a chain of litigation. The case was reportedly heard in London’s High Court and Court of Appeal and last week, the court rejected NLNG’s appeal, confirming that the company must pay approximately $260 million to Vitol and $120 million to Glencore. Read More https://nairametrics.com/2025/02/25/london-court-orders-nigerias-nlng-to-pay-380-million-over-undelivered-cargoes/