- BP signed an MoU with Egypt to establish a green hydrogen production facility.
- The MoU was also signed by other agencies in Egypt.
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 signed by other Egypt agencies such as the 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.
Egypt intends to demonstrate its 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.