BP Ramps Up Hydrogen Investments and Boosts Team
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BP is giving a boost to its hydrogen management team with new appointees and team structure. It also plans to hire around 100 people into the team this year.
BP's new hydrogen organization will be led by veteran BP executive Felipe Arbelaez and will include six regional team leaders as well as two separate teams dedicated to technical developments and integration of hydrogen in BP's operations, according to an internal company memo obtained by news agency Reuters.
It’s part of the company’s strategy to accelerate investments into low carbon fuels. Hydrogen does not emit greenhouse gases when used for energy; its overall carbon footprint depends on how it is produced.
There are two ways to produce low carbon hydrogen. Green hydrogen is produced by splitting water into hydrogen and oxygen with electricity powered by renewable sources such as solar and wind energy producing zero emissions. Blue hydrogen production, on the other hand, may be powered by emission-heavy fossil fuels, but the emissions are captured and stored.
Last week BP announced a major investment in the Asian Renewable Energy Hub, a massive renewable and green hydrogen project in Australia. The company is buying a 40.5% stake in the $36 billion dollar hub, which is expected to develop up to 1.6 million metric tons of green hydrogen per year.
If developed, the Asian Renewable Energy hub would be one of the world’s biggest producers of green hydrogen.
Earlier this year, BP announced plans to build the UK’s first green hydrogen plant in North Eastern England. The plant is expected to deliver up to 500 megawatt electrical input of hydrogen by 2030. A final decision on BP’s Teesside Green Hydrogen investment plan is expected in 2023.
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