Hydrogen & CCUS (carbon capture, usage and storage) will develop new business models and market opportunities, providing de-carbonization solutions and services to help our partners and customers reach net zero.
By building on our low carbon businesses and our existing capabilities, we intend to capture a 10% share of hydrogen in core markets by 2030. To achieve this, we are accessing new segments, such as the mobility and industrial sectors – including the decarbonization of our own refineries.
bp is determined to build a leading position in hydrogen through progressing opportunities in Europe, UK, Australia and US. In November 2020, bp and Ørsted signed a Letter of Intent (LOI) to work together to build an initial 50 megawatt (MW) electrolyser and associated infrastructure at bp’s Lingen Refinery in north-west Germany (find out about our green hydrogen announcement).
CCUS is at the heart of our plans to deliver low carbon electricity and energy, and to contribute to our net zero ambition. Through combining low carbon energy with CO2 storage as a service, we believe CCUS can play a key role to help hard to abate industries decarbonize and transition.
The CCUS strategy is demonstrated in the Net Zero Teesside project – called H2Teesside, and the Northern Endurance Partnership. bp is leading these partnerships, working with ENI, Equinor, Shell, Total and National Grid.
Find out more about the G&LCE team and bp’s plans for growth in low energy