Shell to buy Nature Energy, a Danish renewable natural gas producer, for 1.9 billion euros

CTOnews.com, Nov. 29 (Xinhua)-- Energy giant Shell announced Monday local time that its wholly owned subsidiary Shell Petroleum NV has agreed to buy Denmark's renewable natural gas producer Nature Energy Biogas AS for 1.9 billion euros (about 14.231 billion yuan).

Shell said the deal, which is expected to close in the first quarter of 2023, would simultaneously boost profits and "bring double-digit returns". The company will fund the acquisition through its current capital, and its current capital range remains unchanged.

CTOnews.com learned that Shell changed its name in January to remove the word "Royal Netherlands" from its name. Data show that Royal Dutch Shell is the world's largest oil company, headquartered in the Hague of the Netherlands and London, England, formed by the merger of Royal Dutch Oil and British Shell.