Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has approved a Final Investment Decision (FID) on the $2 billion HI gas project offshore Nigeria.
The project, expected to deliver about 350 million standard cubic feet of gas per day (mmscf/d) by 2028, represents almost one-third of the gas requirements for the Nigeria LNG Limited’s Train 7 project.
According to a State House statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga on Tuesday, this marks the third major oil and gas FID in 18 months under Tinubu’s administration, following the Ubeta Non-Associated Gas Project and the Bonga North Deepwater Project.
Together, these developments have brought total upstream investment commitments in the sector to over $8 billion since the President assumed office in 2023.
The Federal Government stated that the new gas development aligns with its vision to unlock Nigeria’s abundant natural gas resources for domestic use and export, while advancing energy security and economic diversification.
Since 2024, President Tinubu has issued a series of targeted reforms now embedded in legislation, coordinated by the Office of the Special Adviser to the President on Energy.
These reforms have introduced fiscal incentives, simplified operating processes, reduced contracting costs, and shortened approval cycles, restoring investor confidence and repositioning Nigeria as a competitive global investment destination.
Special Adviser on Energy, Olu Arowolo Verheijen, said the HI Field and Ubeta projects are critical to securing the gas feedstock needed to sustain and expand NLNG operations.
“With the Ubeta FID and now the HI FID, we have secured the gas supply needed to make NLNG Train 7 not just possible, but transformative,” she said.
“These projects will strengthen Nigeria’s LNG exports, expand LPG availability for domestic use, boost foreign exchange earnings, and advance clean cooking access for millions of households.”
Shell’s Upstream President, Peter Costello, reaffirmed the company’s commitment to Nigeria’s energy future.
“With the Ubeta FID and now the HI FID, we have secured the gas supply needed to make NLNG Train 7 not just possible, but transformative. These projects will significantly strengthen the reliability of Nigeria’s LNG exports to global markets while expanding LPG supply for domestic use, reducing imports, boosting foreign exchange earnings, and advancing clean cooking access for millions of Nigerian households. And this is only the beginning; more FIDs are on the horizon, proving that with the right policies in place, investment and impact follow,” he said.
