Managing Director of Shell Nigeria, a subsidiary of Royal Dutch Shell Plc, Mr. Osagie Okunbor has announced that the company is ready to explore natural gas so as to make Nigeria a hub for domestic consumption and export for prospective investments.
Okunbor, in a statement in Port Harcourt said “Our strategy is to invest a lot more in gas for domestic consumption and export. We want to grow our deep water and constrain our onshore oil production.
“Shell’s flagship project would be the Gbarain-Ubie project, which will increase gas supplies to the Bonny liquefied natural gas export terminal. A first phase began production in 2010.“
Shell has reportedly been divesting onshore oil-producing assets for the last few years and completed another set near the end of March.
The sales were part of an effort to move away from onshore oil projects in Nigeria, which are plagued by industrial scale theft, security problems and pipeline spills, which have become a growing legal liability.