(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 14. Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, together with Sunlink Energies and Resources Limited, has taken a final investment decision (FID) on the HI gas project offshore Nigeria, Trend reports.

Once completed, the project is expected to supply up to 350 million standard cubic feet of gas per day - roughly 60,000 barrels of oil equivalent - to Nigeria LNG (NLNG; Shell interest 25.6%), which produces and exports liquefied natural gas (LNG) to global markets. Production is planned to begin before the end of this decade.

“Following recent investment decisions related to the Bonga deep-water development, today's announcement demonstrates our continued commitment to Nigeria's energy sector, with a focus on Deepwater and Integrated Gas,” said Peter Costello, Shell's Upstream President.“This Upstream project will help Shell grow our leading Integrated Gas portfolio, while supporting Nigeria's plans to become a more significant player in the global LNG market.”

The additional feedstock will support NLNG's Train 7 project, which aims to expand production capacity at the Bonny Island terminal, and aligns with Shell's goal to grow global LNG volumes by 4-5% annually until 2030. The project is also expected to contribute to Nigeria's economic development through job creation in construction and operations.

The HI field, discovered in 1985, lies about 50 km offshore at a water depth of 100 meters. Current estimates place recoverable resources from the HI project at approximately 285 million barrels of oil equivalent.

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