Fossil fuel companies want to buy their way into the energy transition.
Oil giant Shell has progressed to the second round of bidding for Danish biogas producer Nature Energy, which is being sold by a private equity consortium for around $2 billion,Fossil fuel companies plan to buy their way into the energy transition, as renewable natural gas is generally compatible with existing infrastructure.
Earlier this week, BP agreed to acquire Houston-based biogas producer Archaea Energy for $4.1 billion, in a massive win for the SPAC that bought Archaea just last year for $1.15 billion.The bottom line: Biogas can provide meaningful carbon reduction, particularly when it's made from waste such as landfills and food scraps, instead of crops specifically grown for fuel. However, methane leaks remain an issue."
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