The agreement includes renewable power generation and energy storage projects, technical studies for natural gas and hydrogen with natural gas blend infrastructure, and low-carbon technical services.
The MoU aims to scope areas in which DNV can support Petrojet with its technical expertise in design verification and project assurance. Petrojet – whose expertise includes pipelines and offshore oil and gas – is seeking a leading role as a green hydrogen engineering, procurement, and construction contractor.
“Egypt has great potential for the cost-effective production of low-carbon hydrogen and its derivatives, and is at a geographic nexus,” said Hisham El-Grawany, vice-president and area manager for North Africa at DNV. He said the region was set to become a key global supplier in the emerging global hydrogen market and a major exporter of hydrogen to Europe.
Egypt is taking steps to diversify its energy sources as an economic growth strategy. It has some of the region’s largest renewable energy programmes and has brought its target for 42% renewable power forwards by five years to 2030. The country aims to become an export hub for low-carbon liquified natural gas (LNG) and green ammonia.
Estimated investments by Middle-Eastern and European companies have recently passed the $100 billion mark. Nine major projects totalling 2.1 million tonnes per year of green hydrogen were announced around the COP27 climate conference in Sharm el-Sheikh in November last year. They are located around the Red Sea port of Ain Sokhna and the Suez Canal Economic Zone.
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