BP, UAE ink sweeping low-carbon agreements
UK energy company BP said September 16 it signed agreements with Middle East partners to collaborate on clean energy development, including hydrogen.
BP signed agreements with the Abu Dhabi National Oil Co (ADNOC) and Emirati clean energy company Masdar that could lead to “billions of dollars” in clean energy and low-carbon investments.
Among the agreements is an arrangement to develop 2 GW of low-carbon hydrogen hubs in the UK and in the UAE. Included in that is the potential for the first international investment in a facility at Teesside, on the UK North Sea coast. A blue hydrogen facility there could be in service by 2027.
This blue hydrogen plant will also include carbon capture and storage (CCS) facilities that could sequester as much as 2mn metric tons of CO2/year.
Elsewhere, BP and Masdar agreed to examine opportunities to “develop, build and operate sustainable energy and mobility solutions for cities” both in the UK and in the UAE.
With ADNOC, the UK company said it would tighten its focus on decarbonising oil and gas operations in Abu Dhabi, with the potential for further collaboration in CCS.
“The UK and UAE have enjoyed decades of strong economic ties and the agreements signed today between ADNOC, Masdar and BP will serve to deepen the strategic relationship between our countries,” ADNOC CEO Ahmed al-Jaber said. “We look forward to building upon this legacy to strengthen both countries’ ambitions to generate economic growth through low-carbon initiatives.”