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Shell Petroleum B.V. has agreed to sell its full stake in the Shell Nigeria Gas Group to Vaaris Energy Limited, a Nigerian firm with interests across the oil and gas value chain.
The sale forms part of Shell’s drive to simplify its holdings and concentrate spending on businesses where it holds a competitive edge, the company said.
The transaction covers Shell Nigeria Gas Holding B.V., set up in 2019, which holds all but one of the shares in Shell Nigeria Gas Limited.
A platform for growth
Elohor Aiboni, Shell’s Country Chair in Nigeria, said the agreement would allow the gas distribution business to develop under new ownership.
“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,” Aiboni said.
“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.”
Founded in 1998, Shell Nigeria Gas distributes natural gas to industrial and commercial users through about 170 kilometres of pipelines in Ogun, Abia and Rivers states, serving over 130 connected customers.
Shell said the divestment aligns with its strategy of simplifying its portfolio and directing investment toward areas of competitive strength.
