popular articles

BP buys biogas producer Archaea for $4.1 billion

British oil and gas giant BP announced on Monday that it has bought American "renewable" gas producer Archaea Energy for $4.1 billion, including $800 million in debt.

Please share:

Archaea produces methane – the equivalent of 6,000 barrels of oil per day – from waste from landfills or “digesters” of organic material from livestock or food. BP hopes with this operation “to strongly increase its bioenergy activities” and counts on this acquisition to “support (its) progress towards (its) goal of carbon neutrality,” it says in a statement.

The transaction still needs to be approved by the regulatory authorities and by Archaea’s shareholders.

“Global demand for biogas is growing rapidly,” the group argues.

BP’s shares were down 0.64% at 452.15 pence around 13:45 GMT, with some analysts believing the price paid for Archaea was high.
The production of “biogas” requires less energy and is therefore less polluting than the extraction of natural gas by drilling or hydraulic fracturing. It also prevents methane, a powerful greenhouse gas, from escaping into the atmosphere. However, it emits CO2 when it is burned.

BP says it wants to become an integrated energy company with five growth drivers: bioenergy, stores at its service stations, electric vehicle charging, renewable energy and hydrogen.

The oil giant announced two years ago that it intended to achieve carbon neutrality by 2050, but warned that it remained focused on its “oil and gas portfolio over the next decade”.

The oil and gas majors are regularly accused of greenwashing by environmental NGOs because their drilling and extraction operations have not stopped, especially since the war in Ukraine has put energy independence at the top of many governments’ priorities, eclipsing the climate emergency.

Register free of charge for uninterrupted access.

Publicite

Recently published in

ExxonMobil has signed a 20-year contract with ARC Resources for LNG supply from the Cedar LNG project, linked to JKM. The deal marks a significant step in global LNG pricing.
Facing a drop in domestic production, Egypt plans to lease a floating natural gas liquefaction unit in Germany to secure its energy supply.
Facing a drop in domestic production, Egypt plans to lease a floating natural gas liquefaction unit in Germany to secure its energy supply.
Africa will experience the fastest growth in natural gas demand by 2050, driven by urbanisation and the need to address the energy deficit, according to the Gas Exporting Countries Forum (GECF) in its report of March 10, 2025.
Africa will experience the fastest growth in natural gas demand by 2050, driven by urbanisation and the need to address the energy deficit, according to the Gas Exporting Countries Forum (GECF) in its report of March 10, 2025.
Under pressure from US sanctions, Iraq explores alternatives to Iranian gas to secure its electricity supply, notably turning to Qatar and Oman, while considering the installation of floating LNG terminals.
Under pressure from US sanctions, Iraq explores alternatives to Iranian gas to secure its electricity supply, notably turning to Qatar and Oman, while considering the installation of floating LNG terminals.
In the context of growing trade tensions with the United States, the European Union strengthens its imports of American liquefied natural gas (LNG) to diversify its energy sources and reduce its dependence on Russian gas.
Qatar has started supplying natural gas to Syria via Jordan in order to alleviate electricity shortages and support the rebuilding of the country's energy infrastructure.
Qatar has started supplying natural gas to Syria via Jordan in order to alleviate electricity shortages and support the rebuilding of the country's energy infrastructure.
Cameroon has announced the upcoming construction of two gas-fired power plants totaling 500 MW in Bekoko and Douala under public-private partnerships, contingent upon gas supply assurances from the National Hydrocarbons Corporation.
Cameroon has announced the upcoming construction of two gas-fired power plants totaling 500 MW in Bekoko and Douala under public-private partnerships, contingent upon gas supply assurances from the National Hydrocarbons Corporation.
NextDecade signs agreement with Baker Hughes for equipment supply and maintenance services related to five new liquefaction units at Rio Grande LNG terminal, significantly boosting U.S. liquefied natural gas export capacity.
NextDecade signs agreement with Baker Hughes for equipment supply and maintenance services related to five new liquefaction units at Rio Grande LNG terminal, significantly boosting U.S. liquefied natural gas export capacity.
Colombian President Gustavo Petro has ordered an investigation into alleged price speculation by local gas suppliers in response to price spikes reaching up to 36%, and announced a new import agreement with Qatar.
Iran invests $17 billion to counteract declining reservoir pressure at South Pars, a gas field shared with Qatar, securing estimated reserves equivalent to around 363 billion barrels of oil.
Iran invests $17 billion to counteract declining reservoir pressure at South Pars, a gas field shared with Qatar, securing estimated reserves equivalent to around 363 billion barrels of oil.
U.S. authorities grant an additional five years to Delfin LNG's project to export liquefied natural gas to non-free trade agreement countries, reviving a venture delayed by the pandemic and trade tensions.
U.S. authorities grant an additional five years to Delfin LNG's project to export liquefied natural gas to non-free trade agreement countries, reviving a venture delayed by the pandemic and trade tensions.
BP has confirmed a gas leak at a well in the Grand Tortue Ahmeyim (GTA) project, located off the coasts of Senegal and Mauritania. The British operator states that repairs are underway and that the environmental impact remains limited.
BP has confirmed a gas leak at a well in the Grand Tortue Ahmeyim (GTA) project, located off the coasts of Senegal and Mauritania. The British operator states that repairs are underway and that the environmental impact remains limited.
US President Donald Trump has announced an Alaska pipeline project to transport natural gas to the Asian market, with ongoing discussions for partnerships with Japan and South Korea.
A gas leak has been identified at the Grand Tortue Ahmeyim (GTA) site, which has been operational since late December, off the coasts of Senegal and Mauritania. BP states that the situation is under control and poses no risk to the environment or workers.
A gas leak has been identified at the Grand Tortue Ahmeyim (GTA) site, which has been operational since late December, off the coasts of Senegal and Mauritania. BP states that the situation is under control and poses no risk to the environment or workers.
Donald Trump confirmed his intention to finalise a major pipeline project in Alaska, aiming to supply natural gas to Asian countries such as Japan and South Korea. The project, one of the largest in the world, could strengthen the region's energy supply.
Donald Trump confirmed his intention to finalise a major pipeline project in Alaska, aiming to supply natural gas to Asian countries such as Japan and South Korea. The project, one of the largest in the world, could strengthen the region's energy supply.
In 2024, France maintained its position as the leading importer of Russian liquefied natural gas (LNG) in Europe, despite an overall decline in its gas consumption.
In 2024, France maintained its position as the leading importer of Russian liquefied natural gas (LNG) in Europe, despite an overall decline in its gas consumption.
The Irish government has greenlit the construction of an offshore liquefied natural gas (LNG) terminal, a key infrastructure to ensure the country's energy security in case of supply disruptions.
Gas demand in France decreased by 5.5% in 2024, largely due to the reduction in gas-fired power generation, according to NaTran, the operator of the gas transmission network.
Gas demand in France decreased by 5.5% in 2024, largely due to the reduction in gas-fired power generation, according to NaTran, the operator of the gas transmission network.
In February 2025, US LNG exports to Europe reached a historic high, with the UK as the top importing country, as demand for natural gas continues to grow in the European market.
In February 2025, US LNG exports to Europe reached a historic high, with the UK as the top importing country, as demand for natural gas continues to grow in the European market.
ChampionX announced that its Aerial Optical Gas Imaging (AOGI) platform has received EPA approval for the alternative methane testing method, enabling operators to better monitor fugitive methane emissions.
ChampionX announced that its Aerial Optical Gas Imaging (AOGI) platform has received EPA approval for the alternative methane testing method, enabling operators to better monitor fugitive methane emissions.
Algerian public company Sonelgaz will build a 40 MW power plant in Niger as part of a project aimed at strengthening energy cooperation between the two countries, following a memorandum of understanding signed in late February.
European gas prices reach their lowest level in two months, supported by progress in Ukraine negotiations and slight improvement in gas reserves. The Dutch TTF futures contract falls 3.37% to €42.80.
European gas prices reach their lowest level in two months, supported by progress in Ukraine negotiations and slight improvement in gas reserves. The Dutch TTF futures contract falls 3.37% to €42.80.
Czech energy group CEZ has won an arbitration case against Russian company Gazprom, securing more than one billion crowns in damages for reduced gas deliveries in 2022.
Czech energy group CEZ has won an arbitration case against Russian company Gazprom, securing more than one billion crowns in damages for reduced gas deliveries in 2022.
Global demand for liquefied natural gas (LNG) is expected to rise by 60% by 2040, driven by economic growth in Asia, emissions reduction efforts in industry and transport, and the impact of artificial intelligence, according to Shell.
Global demand for liquefied natural gas (LNG) is expected to rise by 60% by 2040, driven by economic growth in Asia, emissions reduction efforts in industry and transport, and the impact of artificial intelligence, according to Shell.

Advertising