BP, one of the world’s major energy companies, is making significant strides in its hydrogen journey, with a rapidly growing hydrogen project pipeline.
According to Chief Executive Bernard Looney, the company’s cumulative hydrogen production capacity is set to reach 2.8 million tonnes per year (t/yr), a remarkable 60% increase from its capacity at the end of 2022. This ambitious progress puts BP well on track to achieve its target of doubling its pipeline by the year’s end, with a projected goal of 3.6 million t/yr.
Although Looney did not provide a detailed breakdown of the projects in the pipeline, he highlighted that the growth is anchored by new ventures in Oman and the United States. In June, BP secured a plot for a renewable hydrogen production facility in Oman, which has undoubtedly contributed to its impressive pipeline expansion. In addition, BP’s Vice President of Hydrogen, Tomeka McLeod, revealed plans for renewable and low-carbon hydrogen projects at refineries in the US states of Washington and Indiana.
A significant boost to the pipeline may also be attributed to BP’s announcement of a new project in Spain—a renewable hydrogen cluster with an impressive 2GW electrolysis capacity—revealed in February.
BP envisions that the majority of its planned projects will come to fruition within the next decade. The company has set a commendable target of achieving 500,000-700,000 t/yr of renewable and low-carbon hydrogen by 2030, positioning itself as a frontrunner in the pursuit of green hydrogen solutions. As a first step towards achieving this goal, BP is dedicated to decarbonizing the hydrogen used in its own refineries, a segment that currently consumes approximately 500,000 t/yr of hydrogen. Presently, most of this hydrogen is produced from natural gas, contributing to unabated emissions. However, BP is firmly committed to transitioning to renewable and low-carbon sources for these critical operations.
As BP continues its journey towards sustainable hydrogen solutions, it remains steadfast in its commitment to drive the transition towards a low-carbon future. With rapid pipeline expansion and strategic investments in renewable hydrogen, BP is poised to play a pivotal role in reshaping the energy landscape and ushering in an era of greener and more sustainable energy production.
