Shell signs deal to sell Nigerian gas business
Shell has signed an agreement to sell its entire interest in Shell Nigeria Gas Group to Nigerian energy company, Vaaris Energy Limited, pending approval. Read More: https://punchng.com/shell-signs-deal-to-sell-nigerian-gas-business/
Shell has agreed to sell its entire interest in Shell Nigeria Gas Group to Nigerian energy company Vaaris Energy Limited. This sale is part of Shell's broader strategy to simplify its portfolio and focus on areas where it has competitive strengths. Shell Nigeria Gas Group has been distributing natural gas to industrial and commercial customers in Nigeria for over 25 years.
The transaction, which is subject to regulatory approvals, includes Shell Nigeria Gas Holding B.V., which holds all but one of the shares in Shell Nigeria Gas Limited. Until the sale is finalized, Shell Nigeria Gas Group will continue to operate as usual, serving its customers and maintaining its infrastructure. Vaaris Energy Limited, a Nigerian energy company with interests across the oil and gas value chain, will take over the business.
Shell's Country Chair in Nigeria, Elohor Aiboni, stated that the agreement provides a stronger platform for the business's future under new ownership. Shell continues to concentrate its investment in strategic Deepwater and Integrated Gas positions in Nigeria.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Shell signs deal to sell Nigerian gas business punchng.com
