Shell exits Nigeria's domestic gas business, sells to Vaaris Energy
FROM THE WIRE · FINANCE.YAHOO.COM
Shell has agreed to sell its entire interest in Shell Nigeria Gas Group to privately held Nigerian energy company Vaaris Energy, marking another step in the British oil major's efforts to streamline its operations and focus on higher-return assets. The financial terms of the…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralShell agreed to sell its entire interest in Shell Nigeria Gas to Vaaris Energy, continuing its operational streamlining efforts.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Shell agreed to sell Shell Nigeria Gas Group to Vaaris Energy, a privately held Nigerian energy company.
- 02Shell Nigeria Gas operates approximately 170 kilometers of gas pipelines and serves over 130 industrial and commercial customers.
- 03The transaction remains subject to regulatory approvals; financial terms were not disclosed.
- 04This sale follows Shell's March 2025 sale of its Nigerian onshore oil subsidiary to Renaissance Africa Energy.
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