Chevron closes purchase of US CNG retail network
SUMMARY
Acquisition provides retail outlet for Chevron's RNG-to-CNG fuelling solution.
By Dale LunanUS major Chevron said January 3 it had closed on its previously-announced acquisition of full ownership of Beyond6 and its network of 55 compressed natural gas (CNG) retail stations from Mercuria Energy Trading and Beyond6 founder Andrew West.
The acquisition, originally announced in November 2022, complements existing Chevron collaborations with Brightmark and California Bioenergy to develop renewable natural gas (RNG) projects at dairy farms across the US. The acquisition of the Beyond6 network provides Chevron with the ability to market that RNG, as well as supplies it procures from others, through a nationwide network of CNG locations.
“Chevron has seen strong demand for our RNG-to-CNG fuel offering from new and existing customers,” said Andy Walz, Chevron’s president of Americas Products. “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, Mercuria will enter into a long-term supply relationship to deliver RNG to Chevron.
