UGI Corp. said July 9 that its subsidiary, UGI Energy Services LLC, acquired GHI Energy LLC, a Houston-based renewable natural gas company.
GHI is a leading renewable natural gas (RNG) marketer in California, a state with one of the most robust carbon credit trading programs in the nation. GHI is primarily focused on providing vehicle fleets with RNG by coordinating supply from a portfolio of sources across the country.
UGI Energy Services’ deep expertise in energy commodity marketing and its strong customer base will provide a platform for expanding GHI’s marketing, supply and logistics, and project expertise into other parts of the country. Additionally, the investment in GHI reinforces the company’s existing greenhouse gas emission reduction strategies and provides a platform to further advance its efforts.
“The GHI acquisition advances our strategy to position UGI as a leading provider of energy solutions that meet the environmental and social needs of our customers and our communities,” John L. Walsh, president and CEO of UGI Corporation, said. “We’ve had very good success with our bio-LPG product in Europe and we look forward to expanding our portfolio of renewable offerings. We are committed to positioning UGI as a leader in this area of critical importance to the company and our environment.”
Recommended Reading
Marketed: KJ Energy Operated Portfolio in East Texas
2024-04-16 - KJ Energy has retained TenOaks Energy Advisors for the sale of its operated portfolio located in East Texas.
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
TotalEnergies Cements Oman Partnership with Marsa LNG Project
2024-04-22 - Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
2024-04-22 - Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
TotalEnergies to Acquire Remaining 50% of SapuraOMV
2024-04-22 - TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.