bp acquires UK provider of biomethane for trucks

Gasrec builds, owns and operates biomethane refueling stations for heavy goods vehicles.

bp has acquired a 28.57% stake in Gasrec, the UK’s largest dual provider of bio-LNG and bio-CNG to road transport. The company builds, owns and operates biomethane refueling stations, providing renewable solutions to the heavy goods vehicles.

bp will supply Gasrec with renewable biomethane produced mainly from organic wastes, such as food and dairy manure. The investment will expand bp’s UK footprint in renewable gas production and distribution, adding to its market leading position in the US.

“Bio-LNG and bio-CNG play a crucial role in the energy transition and decarbonization of the heavy-freight industry and is another example of how we’re helping decarbonize hard-to-abate sectors. We’re excited to work with an industry leader like Gasrec to increase the supply of biomethane for HGV customers,” said Carol Howle, EVP Trading and Shipping at bp.

Gasrec’s network of ten biomethane refueling stations across the UK is capable of refueling approximately 1,250 vehicles per day and includes one of Europe’s largest gas refueling stations. With a strong market position, refueling around 40% of the UK’s gas-powered HGVs, Gasrec is seeking to expand its network of refueling stations at logistics parks.

“This agreement is an important milestone for our company as we look to continue increasing our impact on the UK’s heavy goods vehicle industry,” said Rob Wood, CEO of Gasrec

In the UK, road transport is reported as being responsible for 27% of total greenhouse gas emissions in 2019. HGVs represent just 5% of vehicle miles travelled, yet their associated emissions are disproportionately greater, producing around 16% of road transport emissions, according to the press release.