Shell has agreed to sell its entire interest in Shell Nigeria Gas Group to Vaaris Energy, a privately held Nigerian energy company. The subsidiary operates a domestic gas distribution business serving more than 130 industrial and commercial customers across three Nigerian states.
The financial terms were not disclosed. Completion is subject to regulatory approvals.
The sale is part of CEO Wael Sawan’s strategy to simplify Shell’s portfolio. The strategy shifts focus away from some renewable energy ventures and toward more profitable oil and gas projects.
After the sale, Shell will retain its focus on deepwater and Integrated Gas operations in Nigeria, including its involvement with Nigeria LNG.