UK-based oil and gas major BP and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping have signed a partnership agreement to work on the development of new alternative fuels and low carbon solutions for the shipping industry.
As disclosed, as a strategic partner, BP will work on relevant research and development projects connected to the center’s portfolio and contribute to the development of methodologies and optimized pathways for safe and sustainable fuel solutions for shipping.
Additionally, BP will join the Center Advisory Board providing guidance for transition strategies and further development of the center’s activities.
“The shipping industry’s transition to net zero is complex and requires technology advancements and policies that will give companies across the value chain the confidence to act,” William Lin, BP’s executive vice president of regions, cities and solutions said.
“When we work together, we can fast track development, de-risk investments and provide signals to the market that will speed up the decarbonization of the shipping industry.”
“BP brings … expertise in production, storage, handling, transportation and usage of fuels and great experience in driving safety and efficiency in shipping. I see … potential in leveraging and applying this knowhow to accelerate the development of future net-zero solutions for the maritime industry,” the Center CEO Bo Cerup-Simonsen commented.
The center was established in June 2020 by Maersk, ABS, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK Lines and Siemens Energy.
The initiative is focusing on the development of new fuel types and technologies as the industry charts its path toward achieving the IMO 2050 target.
Source: World Maritime News