bp, ADNOC and Masdar have signed three agreements with the potential to lead to billions of dollars of investment into clean and low carbon energy - creating potentially thousands of energy jobs.
The first agreement will see the companies collaborate to initially develop 2GW of low carbon hydrogen across hubs in the UK and UAE, with the intention to expand as the project progresses.
Access to clean hydrogen – a critical fuel in the decarbonisation of hard-to-abate industries – can reduce emissions, enable new, low carbon products, and unlock future fuels.
The announcement will enable a significant contribution towards the UK Government’s target to develop 5GW of hydrogen production by 2030.
bp CEO Bernard Looney said: "By partnering with the visionary leaders of ADNOC and Masdar, we see massive business opportunity to generate the clean energy the world wants and needs – and at the same time revitalise local economies and create the jobs of the future.”
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