Jenny Strasburg of The Wall Street Journal reports that Shell will buy a biogas producer for $2 billion.
- The oil and gas giant will buy Danish renewable gas company Nature Energy Biogas A/S.
- Nature Energy develops biogas from decomposing landfill and farm waste.
- Shell rival BP recently purchased Archaea Energy, which creates renewable natural gas from landfill waste.
- Markets and consumer demand are incentivizing the private sector to accelerate climate-friendly technologies.
“Shell and BP are both looking to use their global oil-and-gas trading arms to reach existing customers willing to pay a premium for cleaner fuel, and to tap new markets as they invest in expanding the biogas businesses. Neither deal changes the dividend or buyback plans of Shell and BP, the companies have said, in a year of huge cash payouts to investors.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
