In accordance with a memorandum of understanding they signed, BP will look into the possibility of creating a new green hydrogen production facility in Egypt.
The General Authority for Suez Canal Economic Zone (SCZONE), the Egyptian Electricity Transmission Company (EETC), the Egyptian New and Renewable Energy Authority (NREA), and the Sovereign Fund of Egypt for Investment and Development all signed the MoU. (TSFE).
According to the terms of the MoU, bp will conduct a number of studies to assess the technical and financial viability of establishing a multi-phase, substantial green hydrogen (gH2) export hub in Egypt. In order to target best-in-class resources, it is envisaged that high-potential locations throughout Egypt would be taken into account as part of the feasibility study. By electrolyzing water with renewable energy, green hydrogen is created.
“BP is proud of our long history in Egypt and major involvement in the country’s energy economy,” said Anja-Isabel Dotzenrath, executive vice president of gas and low-carbon energy at the company. We look forward to engaging with the government to investigate how we might support its ambitious low-carbon strategy because Egypt has world-class renewable energy resources.
“BP is proud of its long history in Egypt and its important contribution to the nation’s energy sector. We look forward to engaging with the government to investigate how we might support its ambitious low-carbon strategy because Egypt has world-class renewable energy resources. Executive vice president of gas and low carbon energy at BP, Anja-Isabel Dotzenrath.
“Transitioning into a low carbon energy system is no longer an option but a requirement, as reiterated by the entire globe during COP27,” said Ayman Soliman, chief executive officer of TSFE. With a multitude of renewable energy sources, a prime location for exporting, and an investor-friendly ecosystem, we are happy with this MoU with bp, which shows our function as a catalyst for that transformation. It expands on TSFE’s green hydrogen product line and supports our mission and vision to turn Egypt into a regional green energy powerhouse.
Expanding the scope of our operations in Egypt is evidence of BP’s long-term commitment to Egypt, according to Nader Zaki, regional president for the Middle East and North Africa. This MoU advances Egypt’s efforts to serve as a regional energy hub, and we are pleased to be a strategic partner in supporting the nation’s objectives for a transition to green energy.
