By Michael Susin

 

Shell PLC said Monday that its wholly owned subsidiary Shell Petroleum NV has agreed to buy Danish-based Nature Energy Biogas AS for 1.9 billion euros ($1.98 billion).

The energy giant said that the deal is expected to be completed in the first quarter of 2023 and to be both earnings enhancing and deliver double-digit returns from completion.

The company added that Nature Energy is a producer of renewable natural gas from agricultural, industrial and household waste.

The acquisition will be absorbed within Shell's current capital range and remains unchanged, it added.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

November 28, 2022 12:23 ET (17:23 GMT)

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