Monday, June 6, 2011

Shell targets $3 billion investment in domestic gas

Business Day
6 June 2011

Shell Petroleum Development Company (SPDC) is committing over $3 billion to domestic gas projects which will help boost economic growth in the country and end gas flaring. Specifically, the gas from the projects will provide feed stocks to the power and fertiliser plants and is expected to boost power generation in the country.

Mutiu Sunmonu, chairman, Shell Group of Companies in Nigeria and also managing director of Shell Petroleum Development Company, who confirmed this to BusinessDay, observed that the company’s gas gathering project had suffered significantly in the last four to five years due to insecurity in the Niger Delta and funding challenges on the part of the Federal Government.

However, according to Sunmonu, in the last one or two years, the government has improved its funding on domestic gas related projects while peace has also returned to the region.

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