BP is set to build a carbon capture, utilisation and storage (CCUS) cluster with PetroChina in Hainan province in southern China.<\/p>\n
The UK supermajor\u2019s China arm signed a memorandum of understanding with PetroChina\u2019s China Southern Petroleum Exploration and Development to focus on CCUS-based low-carbon projects onshore Hainan.<\/p>\n
Under the agreement, the two companies will capitalise on BP\u2019s expertise in developing the UK\u2019s first gas power project with CCUS technology.<\/p>\n
At the signing on Thursday, BP chief executive Bernard Looney said the Net Zero Teesside Power project is part of a larger project to halve emissions from industrial clusters in the UK.<\/p>\n
The Net Zero Teesside Power project is a pioneering gas-fired power project \u2014 fully integrated \u200ewith carbon capture technology, with emissions planned to be exported and securely \u200estored.<\/p>\n
Its proposed combined cycle gas turbine project will have output of up to 860 megawatts of low-carbon electricity. From the power plant alone, the proposed carbon transport and storage infrastructure will capture and store up to 2 million tonnes per annum of carbon dioxide.<\/p>\n
Looney said that CCUS will play a critical role in energy transition especially in industries like power, steel and cement; and CCS technology has the potential to capture more than 90% of CO2<\/sub>\u00a0emissions from hydrocarbon energy.<\/p>\n The world increasingly needs lower carbon energy, but also needs energy that is secure and affordable, he said.<\/p>\n \u201cThat is a complex challenge. We need different fuels including oil and gas. Now we see real momentum behind CCUS,\u201d Looney said.<\/p>\n He said the MoU is part of the strategic partnership BP has with PetroChina\u2019s parent, China National Petroleum Corporation, that was signed in 2015 and recently extended to 2026.<\/p>\n The initial goal of the partnership is to expand the co-operation on international projects. The partnership also covers shale gas exploration and development and fuel retailing ventures in China and is now expanded to low-carbon projects.<\/p>\n \u201cBy signing the MoU on the Hainan CCUS regional centre project, we are honoured and excited to be starting another chapter in our partnership,\u201d Looney added.<\/p>\n China Southern Petroleum is PetroChina\u2019s onshore outfit focusing on E&D in Hainan. The company now produces 6000 barrels per day of oil from the Fushan oilfield in the province.<\/p>\n Upstream understands that China Southern Petroleum has worked out plans to build CCUS projects in Hainan with capacity of 1 million tonnes per annum of CO2<\/sub>, expandable to 10 million tpa in future.<\/p>\n","protected":false},"excerpt":{"rendered":" BP is set to build a carb<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/297"}],"collection":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/comments?post=297"}],"version-history":[{"count":1,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/297\/revisions"}],"predecessor-version":[{"id":298,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/297\/revisions\/298"}],"wp:attachment":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/media?parent=297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/categories?post=297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/tags?post=297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}