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BP's $36 Billion Project Highlights Massive Green Hydrogen Hubs

Major clean-fuel operations are planned in locations including Australia, Texas, the North Sea, Kazakhstan and Oman.

BP’s acquisition of a stake and lead role in a $36 billion green hydrogen development in Western Australia is casting a spotlight on a slew of ambitious projects around the world that are promising to deliver massive amounts of the clean fuel.

Green hydrogen, produced using water and renewable electricity, is widely predicted to play a crucial role in the decarbonization of heavy industry, such as steelmaking, and is forecast to grow rapidly this decade. Global output could jump as much as 18-fold to about 11.6 million tons a year by 2030 with strong policy support, according to BloombergNEF.