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Gas & low carbon energy

Delivering value through our growing gas and focused low carbon energy portfolios and global roster of non-operated joint ventures and strategic customer/key partner relationships. We also provide oversight and integration of bp-wide activities in China and the US. And we are home to renewable natural gas producer Archaea Energy

A montage of images showing various gas and low carbon locations

Gas & low carbon energy (G&LCE) encompasses businesses, platforms and partnerships helping to deliver shareholder value and decarbonize our operations while positioning us for growth through the next decade. 

 

We are increasing investment in our gas business to strengthen the portfolio, grow production, and grow cash flow – always maintaining strong and safe operations. We are investing in lower carbon energy in a capital-light way, by maximizing partnerships, combining capabilities, and accessing external financing.

 

With the benefit of our growing experience, we are clear in the strategic value of low carbon energy for bp. 

  • Renewables for bp is about access to electron flows – first and foremost for trading, including supplying AI data centres. 
  • Hydrogen is still – albeit at a more measured pace – key to industrial decarbonization, including for our own refineries, and enabling improved margins for refined products.
  • Carbon capture helps to decarbonize our own operations – and for other parties – through building new value chains and future merchant business models, including with blue hydrogen. 

 

Our organization also aims to:

  • Partner with bp’s businesses to provide integrated solutions and governance across our NOJV portfolio.
  • Lead the development of deep and enduring relationships with targeted strategic corporates and partners in service of bp’s businesses.
  • Ensure bp’s strategy, plans and wide-ranging activities in the US and China are unified and regionally integrated for value. 

G&LCE businesses:   

Gas

We’re investing in high-return projects and in more discovered resource access, and expect to start up six major gas projects by 2027. 

 

We signed a contract with India’s Oil & Natural Gas Corporation as its technical services provider for Mumbai High, the country’s largest oilfield. We’ve also received final Iraqi government ratification for our contracts to invest in several giant oilfields in Kirkuk, providing for the rehabilitation and redevelopment of the fields. 

 

Archaea Energy is the largest renewable natural gas (RNG) producer in the US. The Houston-based company was acquired by bp in late-2022. 

Hydrogen & CCS

We have prioritized five to seven hydrogen and carbon capture and storage (CCS) projects, four of which reached final investment decision in 2024.  

 

We’ve significantly high-graded and focused our hydrogen portfolio and are prioritizing projects where we have:

  • A clear and supportive regulatory framework and fiscal incentives.
  • Secured local demand with a willingness to pay.
  • Access to the value chain opportunities, such as competitive renewable power for green hydrogen, or linkage to competitive carbon capture for blue hydrogen.
  • The ability to structure in a capital-light manner through financing and partnerships and/or dilutions.
Renewables

In renewables, we have two top-tier platforms that will be able to grow with discipline while being capital light for bp and our shareholders:

  • JERA NEX bp (upon deal completion) will be a top-tier offshore wind developer with 1GW of operation assets and more than 13GW of development pipeline.
  • Lightsource bp is one of the world’s leading solar and battery storage platforms with a strong track record for delivering double-digit returns.
SCP
SCP manages strategic customers to protect and grow value while driving commercial innovation to create new sources of value for bp.
NOJV
The team partners with bp's businesses to provide integrated solutions and governance across the non-operated joint venture (NOJV) lifecycle to reduce risk, embed sustainability, and strengthen NOJV communities.