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Italian oil and gas company Eni, along with state-owned Egyptian Electricity Holding Company (EEHC) and Egyptian Natural Gas Holding Company (EGAS), has signed an MoU agreement to assess the feasibility of producing hydrogen in Egypt.
The companies will conduct a joint study on producing renewable energy powered by green hydrogen as well as a study of the storage of CO2 in depleted natural gas fields to produce blue hydrogen.
The memorandum will permit Eni to assess the technical and commercial feasibility of hydrogen products and analyze the potential local market, as well as export opportunities for hydrogen in Egypt.
The move comes as part of Eni’s commitment to transition toward renewables, with the company noting that the MoU is in line with its plans to eliminate its carbon emissions by 2050, along with Egypt’s desire to diversify its sources of energy production, aiming to optimize its use of natural resources and renewable energy production.
The MoU was signed by EGAS President Magdy Galal, EEHC Chairman Gaber El-Desouky, and Marco Rotondi, Manager of the International Egyptian Oil Company, a subsidiary of Eni.
Also present at the signing was Egypt’s Minister of Petroleum, H.E. Tarek El Molla and Minister Electricity and Renewable Energy, Mohamed Shaker.
The Minister noted that the signing of the MoU demonstrates the drive by political leaders to cement Egypt’s position in hydrogen production, with Shaker highlighting his opinion that Egypt is well suited for renewable energy production.
The development of hydrogen production is in line with Egypt’s strategy for its energy transition and the diversification of its energy mix in cooperation with international companies.
