Egypt – Norway-based DNV and PETROJET have signed a memorandum of understanding (MoU) to expand their collaboration in Egypt’s energy transition by developing green hydrogen and its derivatives, including ammonia.
As PETROJET strives to take the lead as a green hydrogen EPC contractor, the agreement intends to outline the areas in which DNV may assist PETROJET with its technical competence in design verification and project assurance. The agreement also covers projects for the production of renewable energy and energy storage, technical studies for infrastructure utilizing natural gas and hydrogen/gas blends, as well as other technical services for CO2 or low-carbon hydrogen projects.
Hydrogen powerhouse
With recent announcements from Middle-Eastern and European players, the country is well on its way to become a hydrogen powerhouse, with estimated investments approaching $100 billion. Almost 70% of these expenditures are tied to initiatives announced at COP 27 in November last year, when nine big initiatives totaling 2.1 million tonnes per year (Mt/yr) were announced.
Egypt is making significant attempts to diversify its energy source as part of its economic expansion strategy. It has some of the best renewable energy initiatives in the region and has made significant progress toward its goal of using 42% renewable energy by 2030. (5 years earlier than previously planned). As a result of these advancements, the country is expanding as an export hub for low-carbon LNG and green ammonia.
