Chevron U.S.A. Inc., a subsidiary of Chevron Corp., has agreed to form a joint venture with Mercuria Energy Trading, one of the world’s largest integrated energy and commodities companies, to own and operate American Natural Gas LLC and its network of 60 compressed natural gas (CNG) stations across the United States.
The creation of this joint venture will allow Chevron to rapidly grow its renewable natural gas value chain, complementing its previously announced plan to open more than 30 Chevron-branded CNG stations by 2025.
“Chevron is committed to producing a tenfold increase in renewable natural gas volumes by 2025 compared to 2020 as part of our higher returns, lower carbon strategy,” said Andy Walz, Chevron’s president of Americas Fuels & Lubricants. “This acquisition will advance our renewable natural gas business in support of customers who want to reduce their c