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World's Largest Miner Aims To Boost Its Green Credentials - Read How

  • BHP Group Ltd (NYSE: BHP) expects to induct three bulk carriers powered by liquefied natural gas (LNG) in six to nine months.

  • The move is a part of the company’s plan to cut shipping emissions. BHP is looking into the potential for biofuels to enhance its green quotient, Reuters reported.

  • The miner received its first two LNG-fueled vessels earlier in 2022.

  • BHP will get three additional carriers from shipowner Eastern Pacific Shipping by mid-2023, the report added.

  • Europe has been struggling to meet its energy needs and boosting LNG imports after sanctions against Russia due to its invasion of Ukraine.

  • The war has led to a surge in Asian LNG spot prices which is at their highest since 2010, the report specified.

  • To weather the volatile situation, BHP has locked in some term supplies.

  • The company aims to achieve net zero greenhouse gas emissions from its operations by 2050.

  • Price Action: BHP shares are trading higher by 1.80% at $52.59 in premarket on the last check Tuesday.

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