TUE OCT 13 2026-theGBJournal| Shell Petroleum B.V. has signed an agreement to sell its domestic gas distribution business in Nigeria to Vaaris Energy Limited, in the latest move by the oil major to streamline its portfolio and concentrate on strategic investments in the country.
Shell Petroleum B.V. agreed to transfer its entire interest in the Shell Nigeria Gas Group to Vaaris, a Nigerian energy company with operations across the oil and gas value chain, Shell said in a statement released by its Communications Manager, Gladys Afam-Anadu.
The transaction, which is subject to regulatory approvals and other conditions, covers a business that supplies natural gas to more than 130 commercial and industrial customers in Nigeria through about 170 kilometres of pipeline infrastructure across Ogun, Abia and Rivers states.
Shell Nigeria Gas, established in 1998, distributes gas to industrial and commercial users but is not involved in upstream gas production, liquefied natural gas or international gas trading.
The sale underscores Shell’s strategy of simplifying its portfolio and focusing investment on areas where it sees stronger competitive advantages, particularly deepwater operations and integrated gas.
“We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership,” Elohor Aiboni, Shell’s Country Chair in Nigeria, said.
Aiboni said Shell Nigeria Gas had served industrial and commercial customers for more than 25 years, supported by the commitment and expertise of its employees.
Shell said it would continue to focus on its strategic deepwater and integrated gas positions in Nigeria, including its interest in Nigeria LNG.
The transaction includes Shell Nigeria Gas Holding B.V., established in 2019, which holds all but one of the shares in Shell Nigeria Gas Limited.
Until the deal is completed, the Shell Nigeria Gas Group will remain part of Shell and continue to serve customers and operate as usual.
The companies did not disclose the financial terms of the transaction in the statement.
By Charles IKE-OKOH
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