Chevron U.S.A. Inc. will acquire compressed natural gas (CNG) network Beyond6 LLC from current owner Mercuria Energy Trading and Beyond6 CEO Andrew West, Chevron announced in a press release on Nov. 17.
Beyond6 (B6) has a network of 55 CNG stations spanning across the U.S., which Chevron believes will complement its growing portfolio of lower carbon products, including renewable natural gas (RNG).
"Chevron has seen strong demand for our RNG-to-CNG fuel offering from new and existing customers," Chevron president of Americas Products Andy Walz said in the release. "Because of its carbon-negative attribute and the ability of fleet operators to efficiently adapt vehicles to run on CNG, renewable natural gas can be a lower carbon solution for fleets seeking to reduce their lifecycle greenhouse gas emissions."
As part of the transaction, which is subject to customary closing conditions, Geneva, Switzerland-headquartered Mercuria will deliver RNG to Chevron through a long-term supply relationship. Chevron will be able to market the RNG produced or procured through an array of CNG locations thanks to the acquisition.
In addition to the B6 acquisition, Chevron is developing additional low emissions projects through collaborations with Brightmark LLC and California Bioenergy LLC across the U.S.
With offices and hubs worldwide, independent energy and commodity group Mercuria is one of the largest players in the global energy and renewables markets, accumulating over US$100 billion in turnover.
"B6 represents a best-in-class operator in the build-out of a renewable natural gas network, and Mercuria has been excited to help the company grow from a stand-alone business to one that can help drive growth under Chevron," Mercuria chief investment officer Brian A. Falik commented in the release.
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