Global energy giant, Shell, has signed an agreement to sell its entire stake in Shell Nigeria Gas Group to Vaaris Energy.
The deal covers Shell’s domestic gas distribution business in Nigeria, although the financial details have not been disclosed.
Shell Nigeria Gas supplies natural gas to industrial and commercial customers, supporting manufacturing and other business operations across the country.
The transaction, which is subject to regulatory approvals and other applicable requirements, marks another development in Shell’s Nigerian operations.
The acquisition could create opportunities for further investment in the domestic gas market, although the implications for customers, employees and future operations will depend on the finalisation of the deal and Vaaris Energy’s plans for the business
