Egypt Unveils National Low-Carbon Hydrogen Strategy to Boost Green Economy
Key Ideas
- Egypt introduced a national low-carbon hydrogen strategy aligned with 'Egypt Vision 2030' to diversify energy sources and reduce carbon emissions.
- The plan, developed with partners like the European Bank for Reconstruction and Development, aims to boost hydrogen production domestically before expanding exports.
- The strategy targets to increase GDP by nearly 18 billion USD and create 100,000 jobs by 2040, positioning Egypt as a global green hydrogen hub.
- The Suez Canal Economic Zone has secured a 397 million Euros contract to export green fuel to Europe, enhancing Egypt's position in the green energy sector.
Egypt has unveiled a national low-carbon hydrogen strategy to enhance its green economy and achieve climate change goals. Prime Minister Mostafa Madbouly stated that the strategy is in line with the government's 'Egypt Vision 2030' and aims to diversify energy sources, reduce carbon emissions, and attract foreign investment. Developed in collaboration with partners such as the European Bank for Reconstruction and Development, the plan focuses on increasing hydrogen production domestically before expanding exports. By 2040, the strategy aims to boost Egypt's GDP by nearly 18 billion USD and create 100,000 jobs, contributing to energy security. The goal is for Egypt to establish itself as a prominent global green hydrogen hub. Already making progress, the Suez Canal Economic Zone has secured a significant contract worth 397 million Euros to export green fuel to Europe, further solidifying Egypt's position in the green energy sector.