Shell to buy renewable natural-gas producer for $2 billion
Shell PLC said Monday that its subsidiary Shell Petroleum NV has agreed to buy Denmark-based renewable natural-gas producer Nature Energy Biogas A/S for 1.9 billion euros, or about $2 billion. Nature Energy is Europe's largest producer of renewable natural gas, also known as biomethane, produced from agricultural, industrial, and household wastes. "This acquisition will further increase Shell's ability to work with its established customer base across multiple sectors to accelerate its transition to net-zero emissions," the energy company said. The deal is subject to regulatory approvals and is expected to close in the first quarter of 2023, Shell said. Shell's American depositary receipts have gained about 31% this year, constrasting with a loss of around 16% for the S&P 500 index.
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