Egypt: Long-term gains for low-carbon hydrogen strategy

Egypt has launched its national low-carbon hydrogen strategy, which it envisages will bear economic and social benefits in the long term.

The country’s Cabinet announced the plan on Thursday, 15 August.?

Prime Minister Mostafa Madbouli said the move forms part of steps to attain “Sustainable Development Goals Egypt Vision 2030.”

He added that the strategy will mainly boost the country’s efforts to develop different clean and sustainable energy sources and curb carbon emissions in accordance with its international obligations to combat climate change.?

Egyptian state media reported that the strategy aims to increase Egypt’s GDP by nearly $18 billion by 2040.

In the process, it will also?create over 100,000 jobs?and double energy security through diversified sources.

The government said the strategy is expected to play a pivotal role in activating the energy sector in Egypt and lure more foreign investments “along with providing new job opportunities and improving economic efficiency in using local resources.”

“The low-carbon hydrogen strategy is a forward-looking plan that seeks to position Egypt as a global leader in the low-carbon hydrogen economy.?

“It is based on harnessing global experiences and innovations in hydrogen production and renewable energy.”?

Have you read? Egypt: Consortium to explore green hydrogen energy potential

Several hydrogen projects in the pipeline for Egypt

In July, Egypt signed multiple renewable energy deals worth billions of dollars for export to the EU. The most notable agreements entail projects for producing green hydrogen and green ammonia.

In February,?Egypt?signed seven Memoranda of Understanding (MoUs) in green hydrogen and renewable energy with seven global developers, with expected investments worth $41 billion over 10 years.

Also, a newly established consortium recently signed a framework agreement with the government to explore the potential development of a multi-phase green hydrogen (gH2) project.

The agreement allows the consortium to start conducting studies and activities to evaluate the project’s technical and commercial feasibility.