Shell Petroleum B.V. has agreed to sell its entire interest in Shell Nigeria Gas Group to Vaaris Energy Limited, a Nigerian company.
The transaction covers Shell’s domestic gas distribution business in Nigeria, according to a statement issued by the company on Tuesday.
Shell Nigeria Gas has supplied gas to industrial and commercial customers in the country for more than 25 years.
The company said its workers had played an important role in sustaining the business and expressed confidence that the change in ownership would support its future development.
“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.
“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 company said.
Shell added that it would continue to concentrate on its strategic deepwater and integrated gas operations in Nigeria, despite the planned sale of its domestic gas distribution business.
The announcement marks a change in ownership for Shell Nigeria Gas, which has operated in Nigeria’s industrial and commercial gas market for more than two decades.
