Enagás and bp Oil España have signed 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.

About Enagás

In Spain, Enagás is the leading natural gas transmission company and the Technical Manager of the Gas System. With 50 years of experience, the company is certified as an independent Transmission System Operator (TSO) by the European Union and operates in eight countries. It has more than 12,000 kilometres of gas pipelines, three strategic storage facilities and eight regasification plants.
In line with its commitment to achieving carbon neutrality by 2050, Enagás promotes and develops projects that contribute to the decarbonisation process. It is committed to the development of renewable gases - green hydrogen and biomethane - that can be transported by the gas pipeline network, and to the use of natural gas as a fuel for transport. In addition, it contributes through its Corporate Entrepreneurship and Open Innovation Programme to provide key solutions for the Energy Transition.
The company has strengthened its presence in the most relevant sustainability indices. Enagás was the only company in its sector in the world to be included in the CDP Climate Change 'A List' and, for the twelfth consecutive year, it also appears in the Dow Jones Sustainability Index (DJSI) as a world leader in its sector with the Gold Class distinction.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.