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Mining Firm Joins BP in Peterhead

Energy giant BP revealed yesterday that it had brought a new partner into the project for a world-first carbon-capture and storage scheme at Peterhead. International mining group Rio Tinto of the UK has formed a new company with BP to develop decarbonised energy projects around the world. The hydrogen-fuelled power projects planned for the north-east and California will become part of the new jointly-owned firm called Hydrogen Energy.

Energy giant BP revealed yesterday that it had brought a new partner into the project for a world-first carbon-capture and storage scheme at Peterhead.

International mining group Rio Tinto of the UK has formed a new company with BP to develop decarbonised energy projects around the world.

The hydrogen-fuelled power projects planned for the north-east and California will become part of the new jointly-owned firm called Hydrogen Energy.

The 600million "green power" scheme at Peterhead already involves BP and Scottish and Southern Energy. BP's 50% stake in the north-east scheme will now be held by Hydrogen Energy.

General Electric is also still in discussions with BP on how it may be involved.

The north-east project is currently on hold, pending a Government decision on whether to provide financial support. If the Peterhead scheme gets the go-ahead, the development could be in commercial operation in 2011.

As part of the Hydrogen Energy agreement, Rio Tinto will pay around 16million to BP.

BP group chief executive Tony Hayward said: "Projects such as these... more [truncated due to possible copyright]  

Energy giant BP revealed yesterday that it had brought a new partner into the project for a world-first carbon-capture and storage scheme at Peterhead.

International mining group Rio Tinto of the UK has formed a new company with BP to develop decarbonised energy projects around the world.

The hydrogen-fuelled power projects planned for the north-east and California will become part of the new jointly-owned firm called Hydrogen Energy.

The £600million "green power" scheme at Peterhead already involves BP and Scottish and Southern Energy. BP's 50% stake in the north-east scheme will now be held by Hydrogen Energy.

General Electric is also still in discussions with BP on how it may be involved.

The north-east project is currently on hold, pending a Government decision on whether to provide financial support. If the Peterhead scheme gets the go-ahead, the development could be in commercial operation in 2011.

As part of the Hydrogen Energy agreement, Rio Tinto will pay around £16million to BP.

BP group chief executive Tony Hayward said: "Projects such as these have the potential to help deliver the carbon-emission reductions which companies and countries around the world are now seeking. The combination of skills and experience which BP and Rio Tinto bring will allow us to accelerate the development and deployment of these important new technologies and projects."



Source: http://www.thisisnorthscotl...

MAY 18 2007
https://www.windaction.org/posts/8984-mining-firm-joins-bp-in-peterhead
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