Italian integrated energy company Eni signed a memorandum of understanding (MoU) to assess the feasibility of hydrogen production in Egypt. The agreement was entered into with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS).
The memorandum will allow Eni to assess the technical and commercial feasibility of projects for the production of hydrogen in the country.
EGAS president Magdy Galal, along with EEHC’s Gaber El-Desouky and Eni subsidiary IEOC manager Marco Rotondi signed the MoU.
The parties will conduct a study into joint projects to produce green hydrogen, using electricity generated from renewables, and blue hydrogen, through the storage of CO2 in depleted natural gas fields.
The study will also analyse the potential local market consumption of hydrogen and export opportunities. In addition, possible development and business schemes will be evaluated to implement the selected projects.
The Ministry of Petroleum noted the state’s interest in entering the field with new projects. Egypt is keen to diversify its sources of energy production. It aims to optimise the use of its natural resources and renewable energy opportunities.
El Molla noted that the rapid signing demonstrated the drive from political leaders to establish Egypt’s position in hydrogen. Support for hydrogen goes all the way to the president, he said.
Shaker highlighted green hydrogen potential and he was of the opinion that Egypt was well suited for renewable energy production.
Today’s memorandum of understanding is part of the path that Eni has undertaken to reach the target of eliminating Scopes one, two and three net emissions (Net GHG Lifecycle Emissions) and cancelling out the relative emission intensity (Net Carbon Intensity) by 2050, referring to the entire life cycle of the energy products sold.
It comes in the framework of Egypt’s strategy for energy transition, diversifying energy mix and developing hydrogen projects in cooperation with major international companies.