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

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

CNOOC Finds Oil and Gas in South China Sea

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

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

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