20th Feb 2023 17:30
(Alliance News) - Shell PLC on Monday completed the acquisition of Danish biogas producer Nature Energy.
The USD2 billion deal announced in November supports Shell’s ambitions to build an integrated renewable natural gas value chain globally and to profitably grow low-carbon offerings to customers across multiple sectors.
It is expected to be accretive to Shell’s earnings from completion and to deliver double-digit returns.
Nature Energy, founded in 1979, is the largest producer of renewable natural gas in Europe.
As part of the deal, Shell has bought its portfolio of operating plants, associated feedstock supply and infrastructure, its pipeline of growth projects and its in-house expertise in the design, construction, and operation of innovative and differentiated RNG plant technology.
Shares in Shell closed down 0.7% at 2,524 pence in London on Monday.
By Jeremy Cutler, Alliance News reporter
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