bp and Masdar Consortium to Develop Green Hydrogen Project in Egypt
Key Ideas
- bp joins a consortium led by Masdar, Hassan Allam Utilities, and Infinity Power to develop a green hydrogen project in Egypt.
- The consortium aims to evaluate the feasibility of a large-scale multi-phase project focused on developing green hydrogen and its derivatives for exports.
- Masdar's Chief Green Hydrogen Officer expressed optimism about the partnership with bp and highlighted the commitment to drive green hydrogen development globally.
- bp already has a significant presence in Egypt, producing 70% of the country's gas and operating major gas development projects in the region.
Masdar, in collaboration with partners like bp, Hassan Allam Utilities, and Infinity Power, is pursuing a green hydrogen project in Egypt. The consortium has secured a Framework Agreement with the Egyptian government to assess the technical and commercial viability of the project. The focus is on developing a large-scale, multi-phase green hydrogen project with an emphasis on exporting the produced hydrogen. Masdar's Chief Green Hydrogen Officer expressed enthusiasm about bp joining the consortium, emphasizing the commitment to advancing green hydrogen initiatives globally. Additionally, bp's existing operations in Egypt, including its significant gas production, position the company well to contribute to the development of sustainable energy projects in the region.