Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Clean Energy, Total sign JV for renewable natural gas production

    Clean Energy, Total sign JV for renewable natural gas production

    March 4, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Renewable natural gas production

    Bengaluru — U.S. alternative fuels supplier Clean Energy Fuels Corp and its largest shareholder, European oil and gas producer Total SE, announced terms of a new joint venture on Thursday focused on renewable natural gas (RNG) production.

    Clean Energy’s shares rose 7.5% to $13.15 in pre-market trading.

    The joint venture, owned equally by both firms, will have an initial firm commitment of $100 million to build renewable gas production facilities. That amount could be increased to $400 million later as “development opportunities progress”, Clean Energy said in a statement.

    Clean Energy said Total will also provide credit support to the joint venture for building so-called ‘downstream’ infrastructure, which includes refineries and fuel stations.

    Carbon-negative RNG is produced when carbon emissions are captured from dairies and turned into a transportation fuel, reducing the harmful effects of long-term climate change.

    Major energy firms have set targets to reduce greenhouse gas emissions or are exploring investments in renewable energy and green technology amid rising pressure from investors and activists.

    Total CEO Patrick Pouyanne said in January his company will keep up its renewable energy investments this year, as it tries to reduce its dependence on oil and shift towards electricity and renewable energy.

    U.S. oil major Exxon and Chevron are also investing in carbon-removal technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change.

    *Arundhati Sarkar; Editing: Krishna Chandra Eluri – Reuters

    Related News

    CEMAC, APPO and CABEF conclude tripartite agreement for the CAPS project

    NCDMB intervenes as Enerog, host communities resolve FTO dispute

    ‘Petrobras wants more power to appoint Braskem board members and directors’

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    NDPHC launches 7.5MVA substation in Borno to boost power supply

    June 9, 2025

    Nigeria sends mining scholars to Australia for training

    June 9, 2025

    Shipping firms dodges $900m cost, as Nigeria hit by empty container glut

    June 9, 2025

    Military busts 27 illegal refineries in Rivers, Bayelsa, others

    June 9, 2025

    ‘OPEC oil output rises in May but compensation cuts limit hike’

    June 9, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.