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Bp, ADNOC And Masdar Partner To Provide Clean Energy Solutions For UK And UAE

bp (BP.L,BP_UN.TO,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, bp said in a statement.

As per the first agreement, the companies will 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.

The announcement could enable a significant contribution towards the UK Government's target to develop 5GW of hydrogen production by 2030.?

It could also lead to the first international investment in the low carbon hydrogen facility in Teesside (H2Teesside), which aims to produce?1GW of?blue hydrogen?starting in 2027.

The companies also intend to pioneer decarbonized air corridors between the UK and UAE, further strengthening the commercial and cultural ties between the two countries in a sustainable way.

In addition, bp and Masdar have agreed to explore opportunities to develop, build and operate sustainable energy and mobility solutions for cities - in the UK, UAE and beyond - on the road to net zero. The two companies will initially focus on the application of energy efficiency and storage, cleaner fuels and distributed renewables generation.

Meanwhile, bp and ADNOC plan to deepen their collaboration to decarbonize oil and gas operations in Abu Dhabi, including the potential development of Carbon Capture Use and Storage hubs. The two companies would also harness advanced methane emission detection and reduction technologies and create Smart Decision Centres in the UAE, where digital and AI technology would then be used to accelerate operational efficiency.

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