BP and Thyssenkrupp in hydrogen supply pact

Oil major signs MoU with German steelmaker to supply low-carbon hydrogen and support growth of green steel

BP has signed a memorandum of understanding with Thyssenkrupp aimed at supplying low-carbon hydrogen and renewable power to the German steelmaker. The two companies have agreed to explore long-term supply options for both blue and green hydrogen—as well as wind and solar power under power-purchase agreements—to enable Thyssenkrupp to cut emissions by replacing blast furnaces with hydrogen-fired direct-reduced iron (DRI) technology. Thyssenkrupp’s steel operations account for 2.5pc of Germany’s CO₂ emissions, with the main source being the blast furnaces at its Duisburg site, BP says. The company is aiming to produce 400,000t/yr of CO₂-reduced steel by 2025. Its currently produces a total of