Gulf Oil and Gas accountACCOUNT

Shoreline Energy Signs $300 Million Gas Deal with Shell

Source: Reuters 9/11/2017, Location: Africa

Share |
Nigerian energy company Shoreline has signed a $300 million agreement with the local unit of Shell to develop gas infrastructure around the commercial capital, Lagos, both companies said. Shell said in June that it would place more emphasis on gas rather than oil in the West African country, which has the world’s ninth-largest proven gas reserves at 187 trillion cubic feet.

Shoreline said the agreement was to develop, buy, market, distribute and sell natural gas in the Victoria Island, Ikoyi, Lekki and Epe districts -- areas that contain the city’s business hub and some of the country’s most expensive residential properties. It said the agreement provided exclusive rights to distribute and sell gas in those areas.

“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,” said Shoreline’s chairman, Kola Karim.

A spokesman for Shell’s Nigeria subsidiary, the Shell Petroleum Development Company of Nigeria, said the company was “exploring a downstream gas opportunity” in partnership with Shoreline.

Natural Gas News in Nigeria >>

Morocco >>  7/18/2018 - SDX Energy Inc. (SDX) is pleased to announce that, through its subsidiary SDX Energy Morocco (Jersey) Limited, it intends to sign later a Facility Agr...
Egypt >>  6/28/2018 - Honeywell (HON) announced that Sidi Kerir Petrochemicals Co. (SIDPEC) has chosen Honeywell UOP’s C3 Oleflex™ technology to produce 500,000 metric tons...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |

More News

 

Oil & Gas Companies in Nigeria >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.