BP, Govt. of Egypt to Explore Potential for Developing Green H2 Unit

MOU BP, Govt. of Egypt to Explore Potential for Developing Green H2 Unit

2022-12-09 Source: Press release BP

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Under a MOU signed between BP and the Government of Egypt, BP will conduct numerous studies to analyze the feasibility of developing a large-scale green hydrogen production facility in Egypt.

The MOU was signed by BP, Egypt’s New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, the General Authority for Suez Canal Economic Zone and the Sovereign Fund of Egypt for Investment and Development.(Source: BP) — The MOU was signed by BP, Egypt’s New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, the General Authority for Suez Canal Economic Zone and the Sovereign Fund of Egypt for Investment and Development.
(Source: BP)

London/UK – BP has signed a memorandum of understanding (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 signed by BP, Egypt’s 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, BP will carry out 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. Green hydrogen is produced by the electrolysis of water, powered by renewable energy.

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Ayman Soliman, TSFE’s chief executive officer, said: “Transitioning into a low carbon energy system is no longer an option but a necessity, as reaffirmed by the whole world during Cop27. We are proud of this MOU with BP, demonstrating our 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. It builds on TSFE’s green hydrogen portfolio and complements our strategy and mandate to transform Egypt into a regional hub for green energy.”

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