Nigeria secures $2bn Shell Gas investment to boost LNG capacity
President Bola Tinubu
Abdullateef Fowewe
President Bola Tinubu has on Tuesday welcomed Shell’s $2 billion Final Investment Decision (FID) on a new offshore gas project in the HI Field, OML 144, marking Nigeria’s second major gas investment in 18 months.
This project will deliver approximately 350 million standard cubic feet of gas per day from 2028, nearly a third of what Nigeria LNG Limited’s Train 7 requires.
According to a statement by the President Spokesman, Bayo Onanuga, the announcement raises total upstream oil and gas investments under President Tinubu’s administration to over $8 billion since 2023, signaling “renewed confidence of global investors.”
This project complements recent FIDs including the Ubeta Non-Associated Gas and Bonga North deepwater projects.
Special Adviser to the President on Energy, Olu Arowolo Verheijen, remarked,
“With the Ubeta FID and now the HI FID, we have secured the gas supply needed to make NLNG Train 7 not just possible, but transformative.
These projects will significantly strengthen the reliability of Nigeria’s LNG exports to global markets while expanding LPG supply for domestic use — reducing imports, boosting foreign exchange earnings, and advancing clean cooking access for millions of Nigerian households.”
Shell’s Upstream President Peter Costello added, “Today’s announcement demonstrates our continued commitment to Nigeria’s energy sector. This Upstream project will help Shell grow our leading Integrated Gas portfolio, while supporting Nigeria’s plans to become a more significant player in the global LNG market.”
President Tinubu emphasided, “This major FID announcement by Shell, their second in one year, is a clear validation of our wide-ranging reform efforts and a signal to the world that Nigeria is fully open for business and investment.”
The NLNG Train 7 project will expand Nigeria’s LNG production capacity by 8 million metric tonnes annually, about 35% above current levels, driving economic growth, job creation, and stronger local industries through improved gas availability.
