Chukwu Obinna 
President Tinubu and Shell executives seal $2bn offshore gas deal in Abuja
ABUJA, Nigeria – A symbolic handshake at the State House in Abuja between President Bola Tinubu and Shell executives on Tuesday marked a major stride in Nigeria’s energy drive, as the oil giant confirmed a $2 billion Final Investment Decision (FID) for the HI offshore gas field in Oil Mining Lease (OML) 144.
Presidential spokesman, Bayo Onanuga said the project would deliver 350 million standard cubic feet of gas per day by 2028, supplying nearly a third of the feedstock needed for the Nigeria LNG (NLNG) Train 7 expansion.
“The FID announcement by Shell, their second in one year, is a clear validation of our reform efforts and a signal that Nigeria is open for business,” President Tinubu said.
The project underscores renewed investor confidence following the administration’s reforms, which have attracted over $8 billion in upstream investments since 2023.
Special Adviser on Energy, Olu Arowolo-Verheijen, described the deal as crucial to Nigeria’s LNG ambitions.
“With the Ubeta and now the HI FID, we’ve secured the gas supply needed to make NLNG Train 7 transformative,” she said.
Shell’s Upstream President, Peter Costello, reaffirmed the company’s long-term commitment:
“Today’s announcement demonstrates our continued commitment to Nigeria’s energy sector, with a focus on deepwater and integrated gas.”
The HI offshore gas development strengthens Nigeria’s position as a key LNG exporter, boosts government revenue, and advances domestic gas utilisation — central to Tinubu’s economic diversification agenda.
Tinubu, Shell Seal $2bn Gas Deal to Boost Nigeria’s Energy Future
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