Ed Miliband's net zero targets threatened by BP retreat
A massive hydrogen project at the heart of Ed Miliband's net zero plans risks being cancelled as BP retreats from green targets.
The H2Teesside scheme, announced in 2021 by the company's then chief executive Bernard Looney, was designed to produce 'blue' hydrogen from natural gas, and then capture and store the carbon emissions.
It had been slated to deliver more than 10pc of the 2030 target set by Mr Miliband, the Energy Security and Net Zero Secretary, for hydrogen production and was expected to come online by the late 2020s.
But sources have warned that BP is now likely to scale back or even cancel the 1.2 gigawatt project as it struggles to secure enough customers to make the investment worthwhile.
The FTSE 100 company is currently in talks with the Government about whether greater state support can be provided, with Mr Miliband's department viewing the scheme as a potentially important source of hydrogen for both industrial uses and power plants.
On Friday, Ben Houchen, the Tees Valley mayor, said he was seeking urgent talks with BP about the 'highly concerning' potential setback.
He said: 'Asking for increased government subsidy in this way is not a sound basis for an investment of such scale and BP must now be clear in setting out a coherent plan for the project.
'There remains a high level of interest for this site from alternative investors and we will continue to pursue all options.'
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