Shell Sells Nigeria Gas Group to Vaaris Energy Limited

Shell Petroleum B.V. signed an agreement to sell its entire interest in the Shell Nigeria Gas Group to Vaaris Energy Limited, a Nigerian energy company. The transaction marks Shell's exit from Nigeria's domestic gas distribution business after 25 years of operation.

The divestment includes Shell Nigeria Gas Holding B.V. and Shell Nigeria Gas Limited. This business operates approximately 170 kilometers of pipeline infrastructure across Ogun, Abia, and Rivers states, serving more than 130 industrial and commercial customers. The sale does not include Shell's upstream gas production, international gas trading, or liquefied natural gas (LNG) operations.

Shell stated the move aligns with a broader strategy to simplify its portfolio and concentrate investments in areas of competitive strength, specifically deepwater and integrated gas positions in Nigeria, including its interest in Nigeria LNG. The deal remains subject to regulatory approvals, and the Shell Nigeria Gas Group will continue to operate under Shell's ownership until the transaction is completed.