From the Field
Shell, Shoreline sign $300-mln gas deal
LAGOS, September 11, 2017 – Shell Petroleum Development Company has signed a USD 300-million agreement with Nigerian company Shoreline Energy to develop, buy, market, distribute and sell natural gas in Lagos, international media reported Sunday.
The agreement provides exclusive rights to sell and distribute gas in the Victoria Island, Ikoyi, Lekki and Epe districts. Shell will help to fund and develop a pipeline network to transmit and distribute gas from Shoreline’s operated concession.
“The partnership is a significant boost to the gas supply efforts of the federal and Lagos state governments and will deliver tangible benefits to companies and households in Lagos,” Shoreline chairman Kola Karim was quoted as saying by Reuters.
The Nigerian Cabinet recently passed a national gas policy to wean the country off its dependence on oil and harness its vast gas resources.