By SARAH KENT
LONDON -- Nigeria LNG
said Monday it had declared force majeure on its exports of
gas as a blockade by Nigeria's maritime regulator over a
tax dispute entered its second week.
The blockade, which has prevented liquefied natural
gas tankers from accessing Nigeria LNG's loading terminal on Bonny
Island since mid-June, is the result of a long-standing dispute
over the payment of duties on freight and exports between the
company and the Nigerian Maritime Administration and Safety
The company, which is a joint venture between Nigeria's
state oil company, Royal Dutch Shell, France's Total and
Italy's Eni, said in a statement emailed to the Wall Street
Journal that it had declared force majeure effective from
Friday, June 28.
A force majeure is declared when a company is unable to
fulfill its contractual obligations to deliver exports due to
circumstances beyond its control.
Dow Jones Newswires