Gas & low carbon energy (G&LCE) integrates our existing natural gas capabilities with significant growth in low and zero carbon businesses and markets. We will
In December 2019, we increased our stake in Lightsource bp to become a 50-50 joint venture. Lightsource bp aims to develop 10GW of solar projects by 2023. The partnership brings together Lightsource’s solar development and management expertise with bp’s global scale, relationships and trading capabilities.
bp has agreed to acquire the remaining 50.03% of Lightsource bp in a deal expected to complete in mid-2024, subject to regulatory approval.
Hydrogen and CCUS (carbon capture, usage and storage) will develop new business models and market opportunities, providing decarbonization 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.
bp is determined to achieve net zero by 2050 or sooner – and hydrogen and carbon capture and storage (CCS) is a key part of this plan
Offshore wind is a crucial aspect of bp’s strategy and a key component of how we are reimagining energy for people and our planet
As part of our plan to become an integrated energy company, we are providing renewable power, while developing and deploying new technologies to deliver that energy more efficiently