Shell Petroleum B.V. has agreed to sell its entire interest in Shell Nigeria Gas Group to Nigerian energy company Vaaris Energy Limited as part of efforts to streamline its global portfolio.
The company announced the deal in a statement made available recently, noting that the transaction is subject to regulatory approvals and other conditions.
Shell Nigeria Gas distributes natural gas to industrial and commercial customers across Nigeria. Established in 1998, it operates about 170 kilometres of gas pipelines in Ogun, Abia and Rivers states, supplying more than 130 connected customers.
Shell’s Country Chair in Nigeria, Elohor Aiboni, said the business had served industrial and commercial customers for more than 25 years, backed by the commitment and expertise of its workforce.
She said the agreement would provide a stronger platform for the company’s next phase of growth under new ownership.
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“Shell continues to focus on strategic Deepwater and Integrated Gas positions in Nigeria,” Aiboni said.
The transaction includes Shell Nigeria Gas Holding B.V., established in 2019, which owns all but one of the shares in Shell Nigeria Gas Limited.
According to the statement, Shell Nigeria Gas does not engage in upstream gas production, liquefied natural gas operations, or international gas trading. Its activities are focused on distributing gas within Nigeria.
Until the deal receives the necessary approvals and is completed, the business will remain part of Shell and continue operating normally, including serving existing customers.
Vaaris Energy is a Nigerian energy company with interests across the oil and gas value chain and an existing operational presence in the country.
Shell said it would continue to prioritise deepwater operations and integrated gas in Nigeria, including its interest in Nigeria LNG.
