Shoreline Energy Limited, the parent company of Gasland Company Ltd, and The Shell Petroleum Development Company of Nigeria Limited (SPDC) Tuesday signed an agreement to explore opportunities to buy, market, distribute and sell natural gas to consumers and companies in the Victoria Island, Ikoyi, Lekki, and Epe areas of Lagos.
"The partnership is a significant boost to the gas supply efforts of the Federal and Lagos State governments and will deliver tangible benefits to companies and households in Lagos," said Kola Karim, Chairman of Gasland and Chief Executive Officer of Shoreline Energy.
"The project started in October 2015, when Shoreline Power, a subsidiary of Shoreline Energy took a 75% stake in Gasland, who had been granted the Lekki gas distribution franchise for these areas by the former Nigerian Gas Company (NGC)."
SPDC's General Manager Gas, Philip Mshelbila said, "We welcome this partnership with Shoreline to build on our companies' gas supply strength and distribution know-how to deliver gas to customers in the franchise areas. This is an important next step in the expansion of the Nigerian domestic gas market which we have been pioneering since the 1960s."
The Lekki franchise gives exclusive rights to distribute and sell gas in the Victoria Island, Ikoyi, Lekki, and Epe areas of Lagos.