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Greenville LNG, top gas company notorious for breaching contracts, risks another multi-million dollar lawsuit(Docs)

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Greenville LNG, top gas company notorious for breaching contracts, risks another multi-million dollar lawsuit

*Greenville LNG, top gas company notorious for breaching contracts, risks another multi-million dollar lawsuit*

Two years after it was slammed with a $9m claim for breaching contract by a US Court, Greenville LNG company is on the brink of another lawsuit in its supply dealings with Nigerian-based manufacturing giant, BUA Group.
Greenville LNG, top gas company notorious for breaching contracts, risks another multi-million dollar lawsuit
Owned by Eddy Van Den Broeke, a Belgian cement magnate, Greenville is the pioneer Liquefied Natural Gas (LNG) production and distribution company in Nigeria with three liquefaction trains and a total capacity to produce 2250 MT of LNG per day.
The company, which was incorporated in 2013, prides itself for producing and marketing Liquefied Natural Gas to customers across Nigeria since April 2019.
It should be noted that the company is a Nigerian subsidiary of the International Engineering & Construction (IEC), a Luxembourg-based construction company.
However, in 2018, there are reports of how Broeke was struggling to get his LNG project off the ground in Nigeria and also facing a $9m claim from his subcontractor Baker Hughes.
*How it started*
In 2014, IEC through Greenville LNG entered into an agreement with Baker Hughes Energy Services LLC, formerly known as GE Oil & Gas (GEOG), for the purchase and installation of two small-scale liquified natural gas plants in Rumuji, Rivers State, Nigeria.
According to the documents obtained by POLITICS NIGERIA, GEOG agreed to supply IEC with two small-scale liquified natural gas production plants — the first by June 24, 2015, and the second by September 24, 2015— for use at the Rumuji Site.
In exchange, IEC agreed to pay GEOG $95 million. Both parties also agreed on a payment schedule, which would require IEC to pay various percentages of the $95 million at specific milestones.
It was stated that the agreement would be governed by and construed in accordance with the laws of the state of New York.
Unfortunately, GEOG failed to deliver the gas plants by their contractual delivery deadlines and this stalled installation, commissioning, and start-up of the Plants.
*Arbitration*
On July 31, 2018, IEC filed a Notice of Demand for and Commencement of Arbitration under the Contracts on behalf of itself and Greenville.
IEC initially sought approximately $75 million in damages but its demand increased to $700 million by the end of the arbitration.
The $700m claims included the liquidated damages for delayed delivery and damages associated with the delayed entry into operation of the gas plants.
But GEOG also filed counterclaims against IEC for breach of the contracts, asking for damages up to $40.1 million.
In 2020, the American Tribunal gave its verdict, ordering IEC and Greenville to pay GEOG over $9.5m for breaching contracts.
The Tribunal held that IEC had breached the Equipment Contract by failing to make two Milestone payments.
Dissatisfied with the judgement, On January 27, 2021, IEC filed a petition to vacate the Award in New York state court but the court rejected IEC’s arguments.
“In short, due to the strong deference owed to the decisions of arbitrators, the Court is compelled to reject IEC’s arguments and confirm the Award,” the court ruled.
*Poor Ethics/Underhand Business Practices*
It is believed that the posture of the company and record of breaching contract is owing to its owner’s secretive and shady business activities. Prior to setting up Greenville, Eddy Van Den Broeke ran ASCA bitumen from 1996 and grew the company into becoming a giant monopoly with over 90% of the Nigerian market by 2015.
Through this position, he was famed to hold everyone to ransom through alleged arbitrary price increases, artificial scarcity, amongst others. Eddy Broeke’s families were one of six of Belgium’s wealthiest families that featured on the Panama Papers, a cross-border investigation that revealed a list of thousands of people who channelled funds to tax havens.
“The family of Eddy Van Den Broeke, who turned the Eres company into an international player, is also mentioned. Eddy Van Den Broeke is identified as the sole beneficiary of at least five offshore companies in the BVI,” the ICIJ report read.
Eddy was named in the Panama Papers having had an extensive network of shell companies to hide his funds and avoid government oversight.
*Another multi-million dollar breach of contract suit looming*
Our investigations also revealed that recently, BUA, which is one of Greenville’s largest clients, is set to allegedly sue Greenville for 50 billion Naira for a possible breach in contract and reneging on its obligation to supply gas to its businesses in the far north.
According to sources, this dispute is as a result of Greenville LNG reneging on their contract with BUA to supply gas and also increasing prices arbitrarily despite the contractually agreed oil-indexed pricing for any changes in price.
Industry watchers have claimed that Greenville is trying to take advantage of its near monopoly in the domestic trucked LNG market hence their habit of entering into contracts and reneging on it after starting.
With Eddy and his companies’ history of reneging on contracts entered into with the Federal Government, partners, suppliers, communities and clients, it is unlikely that Greenville LNG or its billionaire owner Eddy and Managing Director Ritu Sahajwalla would stop such behaviour anytime soon.
Experts familiar with BUA’s history of ensuring its rights are enforced, believe BUA will pursue this issue to a logical conclusion at the courts and till their rights are enforced.

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Oleksandr Usyk Defeats Tyson Fury Again, Solidifies Legacy Among Boxing Greats

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Oleksandr Usyk Defeats Tyson Fury Again, Solidifies Legacy Among Boxing Greats

Oleksandr Usyk Defeats Tyson Fury Again, Solidifies Legacy Among Boxing Greats

Ukrainian boxing sensation Oleksandr Usyk retained his heavyweight championship titles and cemented his place in boxing history with a unanimous decision victory over Britain’s Tyson Fury in their rematch on Saturday night.

The judges scored the bout 116-112 in Usyk’s favor across the board, marking his second consecutive win over Fury. This victory extended Usyk’s flawless professional record to 23-0, with 14 knockouts, adding another chapter to a career already highlighted by Olympic gold and an undisputed cruiserweight championship.

A Masterclass Performance

Usyk, 37, showcased his signature precision and relentless pace, repeatedly catching Fury with clean left hooks and dominating the latter stages of the fight. Fury, at 6ft 9in (206cm) and weighing a career-high 281 pounds, attempted to impose his physicality but was unable to break Usyk’s composure.

The fight, held in Saudi Arabia, saw Usyk wearing traditional Cossack attire during his entrance, while Fury entered the arena dressed in a festive Santa-inspired robe to Mariah Carey’s “All I Want For Christmas Is You.”

The early rounds were competitive, with Fury landing powerful jabs and body shots. However, Usyk’s endurance and tactical brilliance began to shine in the middle rounds. The Ukrainian landed sharp combinations and dictated the tempo, including a stunning uppercut in the final round that left little doubt about the outcome.

“I thought I’ve won both fights,” Fury said post-match, sporting a bruised right eye. “But I’ll always believe until the day I die that I won that fight.”

A Legacy Sealed

Usyk’s victory solidified his standing as one of the greatest heavyweights in history. Already the first undisputed heavyweight of the four-belt era, Usyk joins the ranks of legends like Muhammad Ali, Joe Louis, and Mike Tyson.

The bout, reported to have a prize purse of $190 million, also underscored Saudi Arabia’s growing influence in global sports. Usyk, who served briefly as a soldier during Russia’s invasion of Ukraine, celebrated his victory by hoisting a symbolic sabre belonging to Ukrainian nationalist hero Ivan Mazepa.

Fury’s Uncertain Future

The defeat leaves Fury’s future in doubt. Once unbeaten across 35 fights, Fury now stands at 34-2-1. His attempt to reclaim glory after a brief retirement in 2022 has been marred by back-to-back losses to Usyk.

Usyk, on the other hand, continues to add to his already remarkable resume, leaving fans and critics alike in awe of his technical skill, resilience, and determination. As the heavyweight division looks ahead, Usyk’s reign appears unshakable, and his place among boxing’s all-time greats is firmly secured.

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Testimony Jaga Redefines Gospel Music with Fuji Rhapsody

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Testimony Jaga Redefines Gospel Music with Fuji Rhapsody

Renowned gospel artist Testimony Jaga has set a new standard in the genre with the release of his highly anticipated album, Fuji Rhapsody. This innovative project masterfully blends the electrifying rhythms of Fuji music with uplifting gospel messages, offering a unique and transformative musical experience.
With a runtime of approximately one hour, Fuji Rhapsody takes listeners on a continuous, spiritually enriching journey, brimming with energy and inspiration. The album is available for streaming on popular platforms, including Spotify, iTunes, Audiomack, Boomplay, and more.
Whether you’re a fan of vibrant Fuji beats or seeking soul-stirring gospel tunes, Fuji Rhapsody is an album that promises to inspire and uplift. Press play and let its powerful melodies rejuvenate your spirit today!
Stream Fuji Rhapsody Here:

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Governor Monday Okpebholo C.O.N Celebrates His Grace, Bishop Desmond Osazuwa, on His Birthday – December 21

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His Excellency Governor Monday Okpebholo C.O.N Celebrates His Grace, Bishop Desmond Osazuwa, on His Birthday – December 21

 

The Governor of Edo State, Senator Monday Okpebholo C.O.N., has extended warm birthday wishes to His Grace, Bishop Desmond Osazuwa Amasihohu, in recognition of his remarkable contributions to the state and his unwavering support during the Governor’s electoral victory.

In a heartfelt message, Governor Okpebholo expressed his profound admiration for Bishop Amasihohu, acknowledging his steadfast leadership, spiritual guidance, and commitment to the well-being of the people of Edo State.

“I am delighted to celebrate Bishop Desmond Osazuwa on his special day,” the Governor stated. “His tireless prayers and invaluable support during my election campaign played a significant role in our collective success. His dedication to the spiritual and physical growth of Edo State is a testament to his purposeful leadership and unwavering faith.”

Reflecting on the Bishop’s years of service, the Governor added, “On behalf of my family and the entire Edo State, I extend my heartfelt congratulations and best wishes to Bishop Desmond Amasihohu on his birthday. He is a true son of Edo, whose contributions continue to enrich our lives. Today, we celebrate not just his birthday but also his enduring impact on our state and beyond.”

Governor Okpebholo emphasized the importance of honoring individuals who dedicate their lives to service. “Recognizing Bishop Desmond Osazuwa aligns with our shared values of inclusivity, unity, and gratitude. His contributions to the spiritual and social fabric of Edo State are invaluable, and we are truly blessed to have him among us.”

Bishop Desmond Osazuwa Amasihohu has spent decades spreading the gospel and transforming lives both within Edo State and across the globe. His birthday celebration drew dignitaries, community leaders, and well-wishers who gathered to honor his life and legacy.

The occasion stands as a powerful reminder of the values of faith, service, and unity that guide the Governor’s vision for a stronger Edo State.

“Happy birthday, my Bishop,” Governor Okpebholo concluded. “Your wisdom and contributions to the development of our state are deeply appreciated. May the Lord Almighty bless you with good health, strength, and continued prosperity.”

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