DNV and PETROJET have signed a memorandum of understanding (MoU) to deepen their partnership in Egypt’s energy transition through the development of green hydrogen and its derivatives, including ammonia.
Since PETROJET strives to take the lead as a green hydrogen EPC contractor, the Agreement intends to define the areas in which DNV may assist PETROJET with its technical experience in design verification and project assurance. The agreement also covers projects for the production of renewable energy and energy storage, technical studies for infrastructure utilizing natural gas and hydrogen/gas blends, as well as other technical services for CO2 or low-carbon hydrogen projects.
With recent announcements from Middle-Eastern and European players, the country is well on its way to become a hydrogen powerhouse, with expected investments surpassing $100 billion. Over 70% of these investments are related to initiatives launched during COP 27 in November of last year, when nine large initiatives with a combined production capacity of 2.1 million tonnes per year (Mt/yr) were announced.
As part of its aim for economic expansion, Egypt is making major efforts to diversify its energy supply. It boasts some of the greatest renewable energy programs in the region and has advanced its goal of using 42% renewable energy until 2030. (5 years earlier than initially planned). The nation is growing as an export hub for low-carbon LNG and green ammonia as a result of these developments.
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