BP and the UK's Department for Energy Security and Net Zero (DESNZ) are nearing an agreement to finance the H2Teesside project, a significant step towards establishing a 1.2 GW blue hydrogen plant in Teesside. This project, designed to utilize natural gas with carbon capture and storage technologies, aligns with the UK government's efforts to reduce industrial emissions. Technical collaborations with Costain and Technip Energies are underway to conduct FEED studies, focusing on hydrogen distribution infrastructure and production facilities. The cost of blue hydrogen production is estimated at 2.38 GBP/kg. Funding decisions for CCUS projects, including H2Teesside, are expected in September, with planning approval in progress. The economic impact of the project is projected to be substantial, aiding in job creation and supporting the UK's industrial competitiveness. This collaboration underscores the importance of technical partnerships in ensuring the economic viability of large-scale hydrogen production, reinforcing the region's commitment to sustainability.