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U.S. DOJ Fines Marubeni on Nigeria LNG Project

Tokyo, Jan 27, 2012 (JCN) - Marubeni Corp. has entered into a Deferred Prosecution Agreement with the U.S. Department of Justice (DOJ) regarding a violation of the U.S. Foreign Corrupt Practices Act (FCPA) in respect to payment of bribes to Nigerian government officials in relation to the Nigeria LNG Project. Marubeni will pay US$54.6 million (approximately 4.2 billion Japanese yen) to the DOJ.

Nigeria LNG Limited, a government-linked company of Nigeria, developed a project to build LNG plants in Nigeria. In order to be awarded construction contracts for the project, French company Technip S.A., Italy-based Snamprogetti S.p.A., M.W. Kellogg Ltd of the U.S., and Japan's JGC Corp. formed a consortium called TSKJ. Between 1995 and 2004, TSKJ was awarded contracts by Nigeria LNG Limited. Marubeni executed Service Agreements with TSKJ regarding the Project (excluding Train 6) and assisted TSKJ in obtaining the contracts.

The DOJ conducted an investigation into the four companies comprising TSKJ and other relevant parties on suspicion of violation of the FCPA. As part of the investigation, the DOJ conducted an investigation into Marubeni, leading to the company's entry into the agreement.

By Chris Lui Staff Writer

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