BP, Marubeni in Japanese Offshore Wind Partnership

OE Staff
Wednesday, March 23, 2022

BP, the British oil major with growing renewables ambitions, has partnered up with Marubeni, the major Japanese integrated trading and investment conglomerate, to explore "a selected offshore wind development opportunity in Japan."

The companies have agreed to form a strategic partnership for offshore wind and potentially other decarbonization projects, including hydrogen.  

As part of the deal, BP will join with Marubeni in its proposal for an offshore wind project off the coast in Japan, purchasing a 49% stake in the proposed project. 

"The companies see this as a first step towards building a market-leading offshore wind position in Japan," BP said.  In relation to the deal with Marubeni, BP will establish a local offshore wind development team in Tokyo.

Japan is aiming to be carbon neutral by 2050 and has set a target of deploying 10GW of offshore wind capacity by 2030 and 30-45GW by 2040.

Anja-Isabel Dotzenrath, BP’s executive vice president of gas & low carbon energy, said: “We are unlocking new regions and new opportunities for BP. Combining our international energy expertise and technical capabilities with Marubeni’s track record of wind and energy development and first-class regional relationships, we can together build important new clean energy resources for Japan and Asia. We want to continue to build on BP's offshore wind portfolio – and we can’t wait to get to work in Japan with Marubeni.”

Apart from this offshore wind push in Japan, BP already has a net offshore wind development pipeline of more than 5GW, with projects in the US and UK. 

According to BP, the company has since 2019, increased its renewables development pipeline four-fold to more than 24GW and is "on track" to meet its 2025 target of having developed 20GW renewable capacity.
 


Categories: Energy Renewable Energy Industry News Offshore Wind Activity Renewables

Related Stories

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

Fugro Lands Deepwater Gas Field Job in Southeast Asia

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Turkey Discovers New Black Sea Gas Reserve

Indonesia Grants Approval to Kuwaiti Firm for Anambas Block in Natuna Sea

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Current News

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com