Shell signs $3.7 billion gas project in Nigeria

Boc gases

Royal Dutch Shell said it has signed an agreement with Nigeria national oil company and two other groups to develop natural gas projects worth $3.7B.

The gas project is a part of the country’s efforts to deal with a looming domestic fuel shortage.

The seven projects would add 3.4B cf/day of natural gas to the Nigerian market to avoid a shortage that has been forecast for 2020, with gas produced under the projects used to produce a target amount of 15 GW of electricity by that year.

Nigeria is Africa’s top oil producer but has suffered a decline in oil and gas investments – despite the rebound in crude oil prices – due to a lack of government incentives and a delay in the approval of energy industry reform.

Leave a Reply

Your email address will not be published.