Gas & low carbon energy
Delivering value through our growing gas and low carbon energy portfolios and global roster of non-operated joint ventures and strategic customer/key partner relationships. We also provide oversight and integration of bp-wide activities in China and the US.
Gas & low carbon energy (G&LCE) encompasses businesses helping to advance bp’s strategic transformation from an international oil company to an integrated energy company.
We aim to:
- Grow our gas portfolio across key regions – prioritizing value over volume – to domestic and export markets.
- Build a global position in blue and green hydrogen to decarbonise our own footprint and grow business in competitively advantaged areas in the near term while creating long-term optionality for post-2030.
- Advance our renewable energy pipeline through our growing offshore wind, onshore wind and solar portfolios, creating feedstock for low carbon power and capturing value through integration and optimization.
- Partner with bp’s businesses to provide integrated solutions and governance across our NOJV portfolio.
- Lead the development of deep and enduring relationships with targeted strategic corporates and partners in service of bp’s businesses.
- Ensure bp’s strategy, plans and wide-ranging activities in the US and China are unified and regionally integrated for value.
G&LCE businesses:
Our Hydrogen and CCS (carbon capture and storage) business aims to provide decarbonization solutions and services to help our partners and customers reach net zero.
Hydrogen
We believe hydrogen will play a vital role in a net zero energy system. When pure hydrogen is used as fuel, it combines with oxygen to produce water, emitting no CO2. We’re in action now to grow our hydrogen business, developing more than 10 hydrogen and CCS projects across Europe, the US and Australia.
CCS
CCS-enabled hydrogen represents an important stepping-stone to scaling up the hydrogen economy. That’s because it enables the near-term development of large-scale hydrogen projects that can make an immediate impact on emissions, and at lower cost than a green hydrogen project of a similar scale.
Offshore wind
bp aims to be a global leader in offshore wind, working towards safely developing and operating a multi-gigawatt global pipeline over the next decade. We currently have a pipeline of 9.6GW net with planned projects and partnerships across the US, UK, Europe and Asia. Find out more about offshore wind.
Onshore wind
bp operates nine onshore wind assets across six US states and owns interest in a tenth wind asset in Hawaii. Together, our US wind farms generate enough renewable electricity to power more than half a million homes a year.
Solar energy
In November 2023, we agreed to acquire the remaining 50.03% stake in our solar joint venture Lightsource bp – one of the world’s leading developers and operators of utility-scale solar and battery storage assets. The deal is expected to be complete in the second half of 2024, subject to regulatory approval.
bp also has its own solar portfolio, which includes Peacock Solar in Texas and Arche Solar in Ohio, providing low carbon energy to local industry.
