Shell has created a new company in Nigeria, named Shell Energy Nigeria.
The name, unlike Seplat Energy and TOTALEnergies, does not refer to the entire Shell Nigeria, but is one of the Shell companies in Nigeria (ScIN), like SNEPCO, the company focused on Production Sharing Contracts, SPDC, which operates the onshore JV assets and Shell Nigeria Gas, the downstream gas distribution firm.
Markus Hector, a former general manager of Shell LNG Market Development, has been tapped to drive the new unit.
Mr. Hector has a Master’s degree in engineering from the Hamburg University of Technology and MBA in General Management from the Rotterdam School of Management in Erasmus University.
He has spent close to 20 years in Shell LNG and Natural Gas Development system.
Shell entered renewables in Nigeria by seeding All On, an impact investment firm, which has invested over $21Million into the off-grid energy space since its formation.
It will now formalize its participation in the market through Shell Energy Nigeria, which will be part of a global group of energy and petrochemical companies with more than 80,000 employees in more than 70 countries.
Shell Energy was first registered in the UK as a home energy business born out of Shell’s acquisition of energy firm, First Utility in 2018.
Shell New Energies, a related company in the United States, works in new fuels for transport, including advanced biofuels and hydrogen; and power, through wind and solar, in an integrated fashion: from manufacturing to home delivery.