Shell Petroleum B.V. has signed an agreement to sell its full interest in the Shell Nigeria Gas Group to Vaaris Energy Limited. Shell Nigeria Gas operates a domestic gas distribution business in Nigeria.
Shell confirmed that until the transaction is fully completed, the Shell Nigeria Gas Group will remain part of Shell, continuing to serve its customers and operate its business as usual.
Shell Nigeria Gas Limited (SNG) was established in 1998 and supplies natural gas to industrial and commercial customers in Nigeria.
Shell Nigeria Gas operates around 170 km of pipeline infrastructure across Ogun, Abia and Rivers states, supplying more than 130 connected commercial and industrial customers. SNG does not operate in upstream gas production, liquefied natural gas (LNG), or international gas trading.
The transaction includes Shell Nigeria Gas Holding B.V., which was established in 2019 and holds all the shares (except for one) in Shell Nigeria Gas Limited.
Vaaris Energy Limited is a Nigerian energy company with interests across the oil and gas value chain and an existing operational footprint in the country.
The sale is consistent with Shell’s focus on simplifying its portfolio and concentrating investment in areas where it has competitive strengths. In Nigeria, our continued focus on Deepwater and Integrated Gas, including our interest in Nigeria LNG, exemplifies our strategy.
“Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people,” said Elohor Aiboni, Shell’s Country Chair in Nigeria.
“We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership. Shell continues to focus on strategic Deepwater and Integrated Gas positions in Nigeria.”
The transaction is subject to regulatory conditions and approvals. Until completion, the Shell Nigeria Gas Group will remain part of Shell and will continue to serve its customers and operate as usual.
