Shell Exits Nigerian Domestic Gas Market, Sells Asset to Vaaris Energy
Shell Petroleum B.V. has officially agreed to sell its entire stake in the Shell Nigeria Gas (SNG) Group to local indigenous operator Vaaris Energy Limited, according to a Reuters report.
The financial details of the transaction have not been disclosed, and the final transfer remains subject to regulatory approvals.
The deal is part of a broader divestment plan to realign Shell’s global portfolio and focus capital on high-return oil and gas projects.
However, its Nigerian operations remain intact, with Shell redirecting its focus toward strategic Deepwater and Integrated Gas positions, maintaining its presence in Nigeria LNG.
Shell’s gas assets have been bought over by Vaaris Energy? a privately held Nigerian firm with an existing operational footprint in the country’s oil and gas value chain.
The asset metric is put at 170 kilometers of pipeline network across Ogun, Abia, and Rivers states with a customer base of over 130 comprising industrial and commercial clients.
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