BP Picks Technip Energies, GE Gas Power To Conduct FEED Study For UK Project

BP plc BP, on behalf of its partners, has selected Technip Energies NV THNPY, leader of a consortium with General Electric Co's GE GE Gas Power, to perform a Front-End Engineering Design (FEED) study for the Net Zero Teesside (NZT) Power project and the Northern Endurance Partnership's (NEP) carbon compression infrastructure in Teesside, U.K.
The NZT project comprises industrial, power, and hydrogen businesses that aim to decarbonize their operations and become U.K.'s first decarbonized cluster.
The companies will work together to develop a detailed plan for integrating amine-based carbon capture technologies at scale with a natural gas combined cycle plant powered by an advanced GE 9HA.02 gas turbine.
Following completion of the FEED study, bp will invite Technip Energies and GE Gas Power to bid for the EPC contract to construct the power station and carbon capture facility.
Price Action: GE shares closed lower by 1.10% at $92.11, BP down by 0.15% at $26.55, and THNPY lower by 0.69% at $12.96 on Tuesday.