The government of Egypt has entered into a memorandum of understanding (MoU) that will facilitate the exploration of green hydrogen exploration in Egypt.
BP signed an MoU with the Government of Egypt, under which it will explore the potential for establishing a new green hydrogen production facility in the country.
The MoU was also by Egypt’s New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), the General Authority for Suez Canal Economic Zone (SCZONE) and the Sovereign Fund of Egypt for Investment and Development (TSFE).
Under the MoU, the oil and gas company will conduct several studies to evaluate the technical and commercial feasibility of developing a multi-phase, large-scale green hydrogen (gH2) export hub in Egypt. It is intended that high-potential locations across Egypt will be considered as part of the feasibility study, targeting best-in-class resources.
Anja-Isabel Dotzenrath, BP’s executive vice president of gas and low-carbon energy, said: “BP is proud of our long history in Egypt and significant role in the country’s energy industry. Egypt has world-class renewable energy resources, and we look forward to working with the Government to explore how we can support its ambitious low-carbon strategy.”
New report says Egypt will fall short of renewable energy target
Green hydrogen export opportunities in Africa show endless promise
Ayman Soliman, TSFE’s Chief Executive Officer, said: “Transitioning into a low carbon energy system is no longer an option but a necessity, as reaffirmed by the whole world during COP27. We are proud of this MoU with BP, demonstrating our role as a catalyst for that transition, providing investors with a wealth of renewable energy sources, an optimal location for exporting and an investor-friendly ecosystem. It builds on TSFE’s green hydrogen portfolio and complements our strategy and mandate to transform Egypt into a regional hub for green energy.”
Nader Zaki, BP’s Regional President for MENA, stated: “Expanding the remit of our business in Egypt is testament to BP’s long-term commitment to Egypt. This MoU builds upon Egypt’s endeavours to be a regional energy hub and we are glad to be able to be a strategic partner to support the country’s green energy transition plans.”