BP buys stake in Gasrec to increase supply of biofuels to HGV customers

BP has acquired a 28.57% stake in Gasrec, expanding the oil giant’s footprint in renewable gas production and distribution in the UK.

The deal will see BP supply Gasrec with renewable biomethane produced mainly from organic waste, such as food and dairy manure.

Carol Howle, BP executive vice president for trading and shipping, said: “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.”

Gasrec chief executive Rob Wood said the deal builds on its 18 years’ experience in the HGV gas supply industry: “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,” he added.

Gasrec has 10 biomethane refueling stations across the UK, which are capable of refueling around 1,250 vehicles per day and includes one of Europe’s largest gas refueling stations, at Daventry International Rail Freight Terminal.