Global law firm Hogan Lovells has partnered with Aluko & Oyebode, the legal department of the Lagos Chamber of Commerce International Arbitration Board (LACIAC), and Nigeria Liquefied Natural Gas Limited (NLNG) to organize a two-day training course for some NLNG employees.
The training took place at the NLNG premises on Bonny Island in the state of Rivers. The participants had the opportunity to hold constructive and interactive meetings with legal experts.

Speakers included London partners Nathan Searle, Angus Rankin and Dr. Ademola Bamgbose, arbitrator at Hogan Lovells; Babatunde Fagbohunlu, SAN, construction and arbitration lawyer Ngo-Martins Okonmah, Dare Senbore of Aluko & Oyebode; and Funmi Iyayi managing director, LACIAC.

Discussions centered around legal risk management and international business disputes, particularly regarding engineering, procurement and construction (EPC) contracts in the oil and gas sector.

It also included an overview of the applicable laws in the industry and the challenges that the referees face in the Nigerian context.

The session provided attendees with a platform to discuss the best legal practices and trends in the world, and to explore the problems and opportunities of the LNG sector in Nigeria.
Hogan Lovells partner, Nathan Searle, was confident in the Nigerian oil and gas industry and said it had a strong future.

Given that Nigeria has one of the largest natural gas reserves in the world and NLNG is the fifth largest LNG producer in the world, Searle said that the sector's potential must be further exploited by further expanding existing knowledge through training such as this.

“NLNG is growing in Africa and has been looking at Nigeria for the past ten years. Despite difficult market conditions, numerous international transactions were carried out.

This has given the industry a strong international profile. Through this training, we exchanged global best practices and solutions that can lead to sustainable growth of the Nigerian oil and gas sector. and we are happy to be among the thought leaders that are influencing the way this sector is addressing key future issues, ”said Searle.

“Discussions like this give the industry the opportunity to focus on processes that add value.

We look forward to aligning further such engagements in various sectors with other leading players in the African market, ”he added.
Babatunde Fagbohunlu, senior partner of SAN, Aluko & Oyebode, said: “Large projects in the oil and gas sector pose risks, and it is important that such risks are handled properly.

The legal and economic discussion about dealing with such risks at an early stage is crucial to keep operational disruptions and losses in value as low as possible.

Training programs such as this, in which legal experts and people directly involved in industry share their experience and knowledge on risk management, are the right step to consolidate and build best practices in the oil and gas sector in Nigeria. "

The organizer of the symposium, managing director of LACIAC, Funmi Iyayi, reiterated the efforts of the panel to provide tailor-made dispute resolution solutions and to support companies not only in settling but also in resolving disputes through partnerships with local and global thought leaders.

LACIAC sees an increasing role of arbitration in contracts that include the Nigerian oil and gas and construction sectors to ensure efficient, affordable, and local dispute resolution for disputes that may arise during a project.
Source:
https://gistforbes..com/2019/12/companies-nlng-deepens-knowledge-in-oil.html#more
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