May 07, 2026 [Reuters]- BP said on Thursday it would sell stakes in two flagship UK carbon capture and storage projects, opening ​the door to new partners as construction starts ‌at both sites.

The oil major said it plans to sell a portion of its equity in the Net Zero Teesside (NZT) Power project ​and the Northern Endurance Partnership project (NEP) in Northern ​England, without disclosing the size of the stakes on ⁠offer or potential buyers.

Here are some details:

• “As the NZT ​Power and NEP projects have reached major milestones, including financial ​close and the start of construction, BP considers this the right time to sell a portion of its equity in both projects,” it ​said in an emailed statement to Reuters.
• Carbon capture is ​the process of trapping carbon dioxide emissions from sources such as power ‌plants, ⁠and storing them underground to prevent them from entering the atmosphere.
• Norwegian energy firm Equinor and TotalEnergies are partners with BP in the NEP project, which is expected to permanently store ​up to ​an initial 4 ⁠million tonnes of carbon dioxide per year.
• The NZT Power project, a joint venture between ​BP and Equinor, is poised to be the ​world’s ⁠first gas power plant with carbon capture, and deliver power to an estimated one million homes in the UK from ⁠2028.
• Shell ​was also among the original partners ​in NEP, but pulled out of the project in 2023.