logo

Shell Nigeria considering investment in gas project in Niger Delta

PUBLISHED: Wed, 21 Jun 2017 08:34:00 GMT

Share

Paul Carsten

WARRI, Nigeria (Reuters) – Shell is considering whether to invest in a gas project in Nigeria’s southern Niger Delta energy hub, the managing director of the local unit said on Tuesday.

Nigeria has the world’s ninth largest proven gas reserves, at 187 trillion cubic feet (tcf).

Osagie Okunbor, managing director of Shell Petroleum Development Company of Nigeria (SPDC), said it was “on the verge of making a final investment decision” on a project in the city of Asa that would have a capacity of 300 million cubic feet.

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

He declined to specify the sum of money being considered as a possible investment.

Okunbor told journalists Shell was putting more emphasis on gas and reducing the oil portion of its footprint in Nigeria, although he added that the company was “still a significant player in onshore (oil)”.

(Writing by Alexis Akwagyiram; editing by Susan Fenton and David Evans)