Two United Arab Emirates firms have backed bp's hydrogen projects on Teesside.
The country's largest energy company - ADNOC - will take a 25% stake in the design stage of bp's blue hydrogen project, while renewable energy specialist Masdar has signed a memorandum of understanding to take a stake in bp's proposed green hydrogen project, HyGreen Teesside.
Together, the projects are expected to deliver about 15% of the Government's recently expanded 10GW target for hydrogen production in 2030.
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ADNOC's investment into H2Teesside - its first in the 海角视频 - will now advance the project to the next stage of design for the two 500MW hydrogen production units by 2030 before start of operations in 2027. And bp will also partner with ADNOC to evaluate a new blue hydrogen project in Abu Dhabi.
Meanwhile Masdar's intention to acquire a stake in HyGreen Teesside will spur the project which is designed to produce 60 megawatt electrical input of hydrogen at start-up in 2025, increased to 500 megawatt electrical input by 2030.
Bernard Looney, bp鈥檚 chief executive said: 鈥淏y joining forces with ADNOC and Masdar we are reinforcing the world-leading role that Teesside, and the 海角视频 more widely, can play in developing new supplies of energy, as well as new skills and supply chains.
"We鈥檙e backing Britain and the resources, capability and net zero ambition here in the 海角视频 make it ideal for the development of low carbon hydrogen - and together we can help deliver a significant contribution to the 海角视频鈥檚 newly increased hydrogen ambition.
鈥淎s well as boosting home-grown energy, the global nature of our partnership with ADNOC and Masdar will support our plans to decarbonize some of the most hard-to-abate sectors in the world 鈥 like industrial manufacturing, power and aviation. Partnerships like this reach beyond borders to provide the new energy solutions the world needs, and I want to applaud Dr Sultan for his continued commitment to help solve the energy trilemma of providing the world with secure, affordable and cleaner energy.鈥
H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC managing director and group CEO, and Masdar chairman, said: 鈥淎DNOC and Masdar鈥檚 deepened partnership with bp is a testament to the UAE and 海角视频鈥檚 longstanding track record of bilateral partnership in sustainability as well as the UAE鈥檚 intent to play a leading role in the fast-growing clean hydrogen economy both domestically and internationally.
"To that end, we welcome the opportunity to collaborate with bp in both the UAE and 海角视频, laying the groundwork for deeper commercial partnership in the area of new energies and clean technologies. In the 海角视频, our role in Teesside will represent ADNOC鈥檚 first investment into the 海角视频 and help to accelerate innovation in decarbonization of energy in industrial sectors. Similarly, the partners鈥 collaboration in Abu Dhabi is expected to further position the UAE as a regional leader in low-carbon energies and technology-driven industrial growth.鈥
Mohamed Jameel Al Ramahi, Masdar鈥檚 chief executive, added: 鈥淭oday鈥檚 announcements will strengthen the strategic partnership between Masdar, ADNOC and bp and continue to drive clean energy innovation for both the UAE and the 海角视频. Masdar has been a long-standing investor in the 海角视频鈥檚 renewable energy sector, and we will leverage our expertise in offshore wind and sustainable aviation fuels to support both nations鈥 energy transition while solidifying the UAE鈥檚 leadership position in the emerging green hydrogen economy.鈥
海角视频 Minister for Investment, Lord Grimstone said: 鈥淭his deal will help us supercharge clean growth by harnessing the expertise of the 海角视频鈥檚 renewable energy sector.
鈥淧artnerships like these help level up investment across the country and boost productivity in our high-tech industries. It鈥檚 brilliant to see Teesside leading the way towards a net zero future, while also growing the economy and creating hundreds of new jobs.鈥
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