Lagos – The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced plans to invest $3,9 billion in joint-venture projects aimed at securing energy supplies for Nigeria and international markets.
The firm will invest in the Trans Niger Pipeline loop-line (TNPL) and the Gbaran-Ubie Phase Two with the Nigeria National Petroleum Commission (NNPC).
Mutiu Sunmonu, SPDC Managing Director, said, “The announcements demonstrate our long term commitment to Nigeria by clearly signalling our intent for the strategic direction of Shell in the country.”
TNPL is important for Nigeria, pumping some 180 000 barrels per day of crude oil to the Bonny Export Terminal and is part of the gas liquids evacuation infrastructure, critical for continued domestic power generation and liquefied gas exports. The total capital investment for the TNPL project bundle is expected to be $1.5 billion.
The Gbaran-Ubie Phase Two project consists of five gas supply and infrastructure projects which are critical for the continued gas supply to the Nigeria Liquefied Natural Gas plant and the Gbaran-Ubie domestic power plant.
The total investment for the Gbaran-Ubie Phase Two bundle is $2.4 billion.
- CAJ News