Shell offshore deal signals Nigerian gas coming of age
FID on the HI development suggests the country’s chronically under-exploited gas reserves are beginning to be properly exploited
Shell’s decision to invest in Nigerian offshore gas may be a turning point in the historical underdevelopment of the country’s resources. In October, Shell took FID on the HI gas project with local partner Sunlink Energies. Shell has a 40% stake in the shallow-water project, with Sunlink holding 60%. Shell has not given the amount invested in HI, but the Nigerian government values the project at $2b. The project, once completed, will supply 350mcf/d of gas to Nigeria LNG, in which Shell has a 25.6% stake, for global export. Gas from the project will be exported from the Bonny Island oil terminal in Rivers State in the Niger Delta region. Production is planned to start by the end of the decad
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