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USA: BP invests in natural gas by acquiring Clean Energy

BP will acquire the upstream portion of Clean Energy’s renewable natural gas business and sign a long-term supply contract with the company.



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BP is increasing its investment in natural gas fuel by acquiring the upstream business of Clean Energy. The deal enables both companies to accelerate the growth in renewable natural gas supply and meet the growing demand of the natural gas vehicle fuel market, according to a company release.

Under terms of the agreement, BP will pay $155 million for Clean Energy’s existing biomethane production facilities, its share of two new facilities and its existing third party supply contracts for renewable natural gas.

 “BP is committed to supporting developments towards a lower carbon future and, working with Clean Energy, we believe we will be well-positioned to participate in the growth of this lower carbon fuel in the U.S.,” said Alan Haywood, chief executive officer of BP’s supply and trading business.

Renewable natural gas fuel, or biomethane, is produced entirely from organic waste. As a fuel for natural gas vehicle fleets, including heavy-duty trucks, it is estimated to result in 70 percent lower greenhouse gas emissions than from equivalent gasoline or diesel fuelled vehicles, according to the release. 

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