Refinery closure to take six months
BP eyes role in Western Australia's decarbonization drive
Assessing viability of hydrogen export plan
Singapore — BP Australia plans to shut its 146,000 b/d Kwinana refinery in Western Australia and convert it into a fuel import terminal, the company said Oct. 30.
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Register NowThe continued growth of large scale, export-oriented refineries throughout Asia and the Middle East has structurally changed the Australian market, BP said, adding that regional oversupply and sustained low refining
margins mean the Kwinana refinery is no longer economically viable.
Converting the refinery into an import terminal will help ensure ongoing security of fuel supply for Western Australia, the company said.
Refining activities will wind down over the next six months and conversion works will carry on out to 2022.
"BP is committed to playing a leading role in growing Australia's future prosperity, making significant investments in natural gas production, as well as in convenience and mobility businesses," Australia Head of
Country Frédéric Baudry said.
"We are particularly excited by the shared ambitions with Western Australia to be net zero by 2050 and the opportunities this can offer," he added.
This includes building on its position in the North West Shelf joint venture through gas exploration at Ironbark and investing in retail growth, as well as progressing low carbon projects with Lightsource BP. It is also assessing the feasibility of a large scale hydrogen export plant in Geraldton, Western Australia, in partnership with the federal government.
In addition to investing in an import terminal at Kwinana, BP is also exploring future options for the site, including a potential clean energy hub to harness the existing and emerging technologies required for the
decarbonization of the Western Australian economy, it said, adding that a multi-use clean energy hub could produce and store lower carbon fuels, including sustainable aviation and marine fuels and waste-to-energy
solutions such as renewable diesel.
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October 30, 2020 at 11:34AM
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BP to shut Australian Kwinana refinery, convert it into fuel import terminal - S&P Global
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