Shell Petroleum NV, a wholly owned subsidiary of Shell, completed the 100% acquisition of Nature Energy Biogas, the largest producer of renewable natural gas in Europe, the company announced on Monday.
Renewable natural gas is a term used for biogas produced from multiple sources, including livestock waste, landfills, wastewater sludge, food waste and other organic waste operations.
The end result can be used for electricity generation, heating, cooking, bioplastics and vehicle fuel.
With the acquisition, Shell Petroleum added Nature Energy's projects to its own portfolio, including operating plants, associated feedstock supply and infrastructure, and a pipeline of growth projects.
Additionally, Shell inherits Nature Energy's in-house expertise in the design, construction, and operation of innovative and differentiated renewable natural gas plant technology.
The acquisition is in line with Shell's goal to build an integrated renewable natural gas value chain at global scale and to profitably grow its low-carbon offerings to customers across multiple sectors, the company said.
Nature Energy will operate as a wholly-owned subsidiary of Shell, initially under its existing brand.
Shell first reached an agreement to buy all shares of Nature Energy in November.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr