BP's Green Hydrogen Endeavors in Spain and Germany
Key Ideas
- BP has approved the development of a green hydrogen facility at its Castellon refinery in Spain.
- The company is also considering a final investment decision on a 100 MW green hydrogen project in Germany by the end of the year.
- These projects aim to produce sustainable aviation fuel and green hydrogen, aligning with BP's decarbonization goals.
- BP's decision to venture into hydrogen follows a similar move by its rival, Shell, in advancing hydrogen projects at their refineries.
BP has announced plans to develop a green hydrogen facility at its Castellon refinery in Spain as part of its efforts to decarbonize and create sustainable aviation fuel. Additionally, the company is preparing to make an investment decision on a 100 MW green hydrogen project in Germany later this year. These initiatives come after BP reported a second-quarter profit that surpassed expectations and increased its dividend. The projects are expected to not only support the production of green hydrogen but also contribute to the production of sustainable aviation fuel, in line with BP's sustainability objectives. The decision to move forward with hydrogen projects follows a similar commitment by Shell to implement hydrogen projects at its refineries.