Biofuels are an important part of bp’s own transformation plans, so where do they fit in the transition to net zero?
Transition is the key word here. At bp, we’re clear on the end goal – delivering secure, affordable and lower carbon energy to help the world reach its net zero ambition. This won’t happen overnight and there’s no single solution to the challenge. We are in action to help to solve problems for our customers both now and in the future.
Biofuels are a great example of this. They’re unusual in the sustainability agenda in that they’re already available and don’t require consumers to make a change. To give you an example, the same engine in your car that runs on mostly fossil fuel works with biofuels, too. The same is true for the trillions of dollars of existing infrastructure around the world – terminals, pipelines, storage tanks – which does not require to be replaced.
“This is why they’re often called ‘drop-in’ fuels – they drop into existing infrastructure and engines to deliver lower carbon transport straight away.”
It means we can make significant cuts to emissions levels in the near term, while other solutions, such as electric vehicles or hydrogen, ramp up in demand.
Where is the demand for these fuels coming from?
Today, the biggest demand is from ground transport, such as cars, vans and heavy goods vehicles. Drop-in biofuels are an easy way for our customers to decarbonize and, over the next decade, we expect demand to rise quickly. Currently, biofuels are used in low-level blends of fossil and non-fossil fuel. Take E10* as an example, that’s 10% ethanol and 90% gasoline. Drop-in, advanced biofuels can reach much higher blend levels, delivering up to 80% reductions in carbon emissions on a lifecycle basis. As countries around the world adopt these fuel blends, demand will be strong and sustained.
