TELETRADER News
11/28/2022, 6:09 PM
(Source: TeleTrader)
Shell-0.06%
Shell to acquire Europe's largest RNG producer
British oil & gas giant Shell plc announced Monday that it will acquire the largest Renewable Natural Gas (RNG) producer in Europe, Nature Energy, for almost $2 billion.
As part of the deal, Shell will also obtain Nature Energy's portfolio of cash-generative operating factories, associated feedstock supply, infrastructure, and its pipeline of growth projects. Nature Energy was created in 1979 and currently operates 14 plants and has a production of 6.5 mln MMBtu per year.
"We will use this acquisition to build an integrated RNG value chain at global scale, at a time when energy transition policies and customer preferences are signaling strong growth in demand in the years ahead," said Huibert Vigevano, Shell's Downstream Director.