Eni announced the signing of a memorandum of understanding with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to investigate the technical and commercial feasibility of hydrogen generation projects in the nation.
The parties will perform a feasibility study on cooperative projects to produce green hydrogen using renewable energy and blue hydrogen utilizing CO2 storage in depleted natural gas fields.
Additionally, the study will examine prospective hydrogen consumption on the domestic market and export options. Additionally, potential development and business models for implementing the selected projects will be considered.
The agreement is part of Eni’s strategy to eliminate Scopes 1, 2, and 3 net emissions (Net GHG Lifecycle Emissions) and zero relative emission intensity (Net Carbon Intensity) by 2050, referring to the whole life cycle of energy products sold. It is part of Egypt’s energy transition strategy, which includes expanding the country’s energy mix and building hydrogen projects in collaboration with large multinational firms.
Since 1954, Eni has operated in Egypt through its subsidiary IEOC Production.