Gas & low carbon energy

Natural gas has a key role to play for decades to come in getting the world to net zero, and will enable bp to build a customer facing business that integrates across the gas value chain and between the gas and power value chains. bp's current gas businesses produce 1,000 mboed (million barrels of oil equivalent per day) and are in Trinidad, North Africa, Mauritania & Senegal, Middle East, India and Asia Pacific. 

bp Bunge Bioenergia is a joint venture that combines bp and Bunge's Brazilian bioenergy and sugarcane ethanol businesses. The venture operates 11 biofuels sites and has a production capacity of 32 million metric tonnes of sugarcane a year. bp Bunge Bioenergia produces renewable energy from its biofuels manufacturing sites with capability of exporting 1,200GW hours of biopower to the national grid. 

bp operates nine sites in six US states and holds interest in another facility in Hawaii- with a total net generating capacity of 926MW. bp also owns ONYX InSight, an international provider of digital and predictive maintenance solutions to the wind industry. (bp Wind – US site)

In September 2020, bp and Equinor formed a strategic partnership to develop offshore wind energy in US. bp and Equinor will jointly develop four assets in two existing offshore wind leases located offshore New York and Massachusetts that together have the potential to generate power for more than two million home. (offshore wind announcement)

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. (lightsourcebp.com)

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.

Hydrogen 
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
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.