Shell completes acquisition of Nature Energy gas producer

Kualalumpur: Here is the text of news released by official news agency Bernama on its website:

Anglo-Dutch energy company Shell said it had completed its $2 billion acquisition of renewable natural gas company Nature Energy, reported Sputnik.

"Shell Petroleum NV, a wholly owned subsidiary of Shell plc (Shell), has completed the acquisition of 100 per cent of the shares of Nature Energy Biogas A/S (Nature Energy)," Shell said in a news release.

"By purchasing the shares in Nature Energy, Shell has acquired the largest producer of renewable natural gas (RNG) in Europe, 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," it said.

Shell reported last November that it had reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension to buy a 100 per cent stake in Nature Energy. It was reported that the deal will be worth nearly US$2 billion dollars.

"Nature Energy will operate as a wholly owned subsidiary of Shell, initially under its existing brand," according to the news release.