The MoU will allow Eni to assess the technical and commercial feasibility of projects for the production of hydrogen in the country.
Egyptian Natural Gas Holding Company president Magdy Galal, along with Egyptian Electricity Holding Company’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 carbon dioxide 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 also evaluated to implement the selected projects.
The Ministry of Petroleum noted the state’s interest in entering the field with new projects. Egypt is intense to diversify its sources of energy production. Egypt targets to optimise the use of its natural resources and renewable energy opportunities.
El Molla noted that the speedy signing demonstrated the drive from political leaders to establish Egypt’s position in hydrogen. Support for hydrogen goes all the way to the president, El Molla said.
Shaker highlighted green hydrogen potential and he was of the opinion that Egypt was well suited for renewable energy production.
Today’s MoU is part of the path that Eni has undertaken to reach the target of eliminating Scopes 1, 2 and 3 net emissions (Net GHG Lifecycle Emissions) and cancelling out the relative emission intensity (Net Carbon Intensity) by year 2050, referring to the entire life cycle of the energy products sold.
