Enagás and bp Oil España have signed today an agreement to promote projects to reduce emissions in Spain, which aims to support the development of projects in three lines of action: the promotion of infrastructure for liquefied natural gas (LNG) and compressed natural gas (CNG) in the field of sustainable transport; the production and encouragement of the consumption of renewable gases, and the promotion of entrepreneurship and innovation projects. The agreement was signed remotely today by Luis Aires, Chairman of bp Oil España, and Marcelino Oreja, CEO of Enagás.
Enagás, through its subsidiary Scale Gas, will develop points of sale of liquefied natural gas (LNG) and compressed natural gas (CNG) in the network of bp service stations, thus promoting the use of a low-emission energy source as fuel in the automotive sector.
Another objective of the agreement will be to promote the use of renewable gas in the Spanish market, helping to reduce the carbon footprint and enhancing its role in the energy mix. To this end, bp will acquire the biomethane produced by Enagás’ company, Bioengas, and will also collaborate in the creation of a national market for the purchase and sale of this product and in the identification of new consumption opportunities.
bp’s strategic objective is to supply biomethane from its LNG and compressed gas plants, as well as the possibility of bp’s refinery in Castellón being supplied through biogas, biomethane or hydrogen plants derived from biogas projects, in line with the strategy towards eco-friendly fuels.
This alliance includes the support and joint development of entrepreneurial and corporate venturing projects in the areas of open innovation, energy transition and sustainable mobility.
The goal: no net emissions in 2050
In February 2020, bp’s new CEO, Bernard Looney, announced a new purpose for the company, to re-imagine energy for people and the planet, and the firm intention to reinvent bp in order to address society’s greatest challenge on a global scale: climate change.
Since then, bp faces an unprecedented challenge, to become a net zero emissions company by 2050 or earlier, and to help the world build a net zero emissions economy. The current market turmoil only reaffirms the need to achieve the purpose of re-imagining energy, bringing about the biggest transformation the company has faced in its 110-year history.
To this end, bp has gradually focused its investments on low-emission activities, a process that began several years ago, in addition to the agreement with Enagás.
In line with its commitment to achieving carbon neutrality by 2050, Enagás is committed to the development of renewable gases -green hydrogen and biomethane- as key solutions for the decarbonisation of sectors that are difficult to electrify, and to the use of liquefied natural gas as a sustainable alternative for transport.
The company is developing at its plant in Cartagena the first pilot project for injecting green hydrogen into a natural gas network in Spain with the aim of reducing the plant’s carbon footprint, and has at its regasification plants an integrated logistics chain for the supply of liquefied natural gas, LNG (small scale and bunkering) as fuel in the transport sector.
Among other awards in the ESG (Environmental, Social and Governance) field in the first quarter of the year, the company has been included in the CDP Climate Change ‘A List’, with the highest rating in its sector in this climate action index. Enagás has been recognised as a world leader in its sector in the Dow Jones Sustainability Index, an index in which it has appeared for the twelfth consecutive year.