bp is the largest supplier of renewable natural gas (RNG) — or “biogas” — to the U.S. transportation sector. The company’s joint venture with Aria Energy captures methane from landfill waste to produce RNG. Thanks to this partnership, bp now owns RNG production facilities in Michigan, Oklahoma and Tennessee.
“As a global energy business, we are focused on the dual challenge of providing more energy with fewer emissions,” says Janet Kong, head of bp’s oil, products and low-carbon trading business in Chicago. “Part of that commitment includes supporting a range of technologies that will help us transition to a lower-carbon future.”
bp also helps enable projects that reduce or store greenhouse gases and generate environmental credits for use in carbon markets.
For example, bp has worked with the Sealaska Corporation, a Native institution, on an improved forest management project in Alaska to maintain and improve carbon sequestration. In March 2018, more than 9 million carbon offsets were issued to the project.
bp is also actively preparing for new maritime pollution requirements that will significantly reduce the limit on sulfur content in marine fuels globally. The company is undertaking a rigorous testing program to support its customers across the industry in meeting the new regulations.
bp is one of North America’s top wholesale and retail power marketers and the largest natural gas marketers in the region. This represents a crucial part of its broader strategy to advance the energy transition, since gas can dramatically reduce carbon dioxide emissions in the power sector.
“We are continuing to expand our gas and power businesses both domestically and globally,” says Orlando Alvarez, head of bp’s gas, natural gas liquids, and power marketing and trading business in Houston. “We have deep expertise across each of the respective commodity value chains, which allows us to provide the reliability and service our customers expect.”
Because its marketing and trading team is integrated with the rest of the company, bp can maximize the value of its energy resources. For example, the team is responsible for moving what is produced by BPX Energy from its newly acquired assets in the Permian-Delaware and Eagle Ford basins in Texas, and the Haynesville basin in Texas and Louisiana.
bp has garnered recognition for its marketing and trading expertise and has received several industry awards, including: