US$300M GAS DEAL BETWEEN SHORELINE ENERGY AND SHELL

Nigerian energy company Shoreline has signed a US$300 million agreement with  Shell to develop, buy,market, distribute  and sell gas  in  the commercial capital, Lagos.

Meanwhile,  in June Shell said  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.

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.