Major energy companies BP, Masdar, and ADNOC will collaborate to establish low-carbon hydrogen hubs and decarbonized air travel corridors between the UK and UAE, in the latest in a series of agreements expanding the strategic connections between the two countries.
According to the statement, the companies aim to produce 2 gigawatts (GW) of low carbon hydrogen in the UK and UAE, with the intention to expand as the project progresses.
The agreements highlight the partners’ leadership in technology-driven solutions to the global climate crisis, as well as a common commitment to decarbonization as a source of new economic opportunity, both domestically and overseas.
“The UK and UAE have enjoyed decades of strong economic ties and the agreements signed between ADNOC, Masdar and BP will serve to deepen the strategic relationship between our countries. We look forward to building upon this legacy to strengthen both countries’ ambitions to generate economic growth through low-carbon initiatives. These initiatives will make a direct contribution to the ‘Principles of the 50,’ the economic blueprint for sustainable growth recently announced by the UAE’s leadership.”
Under the terms of the agreements, ADNOC, BP, and Masdar will work on the construction of clean hydrogen hubs in the UK and the UAE at an initial scale of 1GW in the UAE and 1GW in the UK, expanding on the UAE’s role as an anchor investor in some of the UK’s largest offshore wind projects.
Mr. Bernard Looney, BP’s Chief Executive Officer stated, “The UK and UAE governments have bold plans for decarbonization. The UK is our home and we have worked in the UAE for nearly a century. By partnering with the visionary leaders of ADNOC and Masdar, we see a massive business opportunity to generate the clean energy the world wants and needs – and at the same time revitalize local economies and create the jobs of the future.”
As part of the agreements, ADNOC and BP will mutually explore opportunities for possible collaboration in greenfield carbon capture and underground storage, as well as best-in-class methane detection platforms.
Masdar and BP will also combine to investigate prospects to develop, build, and operate sustainable energy and mobility solutions in metropolitan areas. The strategic framework agreements’ initiatives would be subject to applicable regulatory approvals, as per the reports.
“The expected areas of collaboration align with the key areas of both the UK government’s 10-point plan for a green industrial revolution and the UAE Government’s ‘Principles of the 50’, which includes the development of a dynamic domestic economy through scientific and technical excellence,” according to the statement.