Egypt Signs Agreement to Produce Green Hydrogen and Ammonia in Ras Shukeir
Key Ideas
- The cooperation agreement in Ras Shukeir involves different entities like the General Authority of Red Sea Ports, the New and Renewable Energy Authority, EDF Renewable, and the Egyptian-UAE company of Zero Waste.
- The project aims to localize the industry of green hydrogen, increase investment, and position Egypt as a regional and global exporter of energy and green fuel.
- The initiative is expected to push sustainable development efforts forward, attract more companies to invest in green hydrogen projects, and provide green fuel for ships crossing the Suez Canal.
- The project will generate economic revenues through fees paid to the state for services provided by the implementing company.
During the Egypt-EU Investment Conference, an agreement was signed in Ras Shukeir to produce green hydrogen, its derivatives, and green ammonia. The agreement involves multiple entities, showcasing a collaborative effort towards sustainable energy production. The aim is to boost the localization of green hydrogen production, attract investments, and position Egypt as a key player in the global green fuel market. Officials highlighted the positive impact of the project on sustainable development, emphasizing the potential for attracting more companies to contribute to the growth of the green hydrogen industry in Egypt. Additionally, the initiative is set to provide green fuel for ships passing through the Suez Canal, promoting environmental-friendly practices in transportation. The economic benefits of the project are expected through revenues generated by state fees for the services provided. This agreement signifies a significant step towards enhancing Egypt's position in energy production and contributing to a greener future through the utilization of green hydrogen and ammonia.