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The Digest:

President Bola Tinubu has hailed Shell’s final investment decision on a $2 billion offshore gas project, marking another major step in Nigeria’s push to harness its natural gas reserves and strengthen its position in the global energy market.

Key Points:
  • Shell will develop the HI Field in OML 144, discovered in 1985 but undeveloped for decades
  • The project will deliver 350 million cubic feet of gas daily starting from 2028
  • This supply represents nearly one-third of Nigeria LNG's Train 7 requirements
  • Total upstream investment under Tinubu now exceeds $8 billion since 2023
  • The project follows recent Ubeta gas and Bonga North deepwater developments
  • Reforms include fiscal incentives and reduced approval cycles to attract investment
  • Shell's Upstream President affirmed commitment to Nigeria's energy growth
  • The expansion will boost LNG exports and domestic LPG supply for clean cooking
As global energy landscapes shift, strategic investments become anchors of national progress, revealing how unlocking dormant resources can fuel both economic transformation and sustainable development for generations to come.

Sources: The Cable, Shell Announcement