Shell Sells Domestic Gas Business to Vaaris Energy
On October 14, Shell announced the sale of its entire interest in its domestic gas distribution business, Shell Nigeria Gas Group (SNG), to Vaaris Energy Limited. This transaction is part of Shell's ongoing restructuring of its Nigerian operations, which has seen the company divest from onshore oil production and now extend to domestic gas distribution.
The sale, which is subject to regulatory conditions and approvals, involves Shell Nigeria Gas Holding B.V., established in 2019, which holds nearly all shares in SNG Limited. SNG, founded in 1998, has developed into a significant supplier of natural gas to industrial and commercial customers, operating approximately 170 kilometres of pipeline infrastructure across Ogun, Abia, and Rivers states.
The network currently serves over 130 industrial and commercial customers, providing Vaaris with an established downstream gas distribution operation upon regulatory approval of the acquisition.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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