British multinational oil and gas company bp has entered into a Joint Development Agreement (JDA) with Masdar, Hassan Allam Utilities, and Infinity Power to explore the development of a large-scale green hydrogen project in Egypt.
British multinational oil and gas company bp has entered into a Joint Development Agreement (JDA) with Masdar, Hassan Allam Utilities, and Infinity Power to explore the development of a large-scale green hydrogen project in Egypt.
Under the JDA, bp assumes the role of lead developer and operator on behalf of the consortium. The partners will combine their respective projects and evaluate the feasibility of a multi-phase development, focusing on exports. A framework agreement has been signed with the Egyptian government to conduct studies and activities to evaluate the project’s technical and commercial viability.
The project aligns with Egypt's energy transition plans, which aim to increase the share of renewables in its energy mix.
Last year, Infinity Power, a joint venture between Egyptian company Infinity and UAE-based Masdar, signed an agreement with Egypt's New and Renewable Energy Authority to secure land for a 10 GW capacity onshore wind farm. The project, one of the world's largest wind farms, is being developed in association with Masdar and Hassan Allam Holding.
This latest agreement builds on the existing partnership, leveraging the expertise of the consortium members to drive sustainable energy solutions in Egypt.
“We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country,” bp's Regional President for the Middle East and North Africa, Nader Zaki, said in an official statement.
“The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt's energy transition plans.”
Mohammad Abdelgader El Ramahi, Masdar's Chief Green Hydrogen Officer, welcomed bp to the consortium, reinforcing Masdar's commitment to driving green hydrogen development globally.
“We already have plans to develop green hydrogen projects in Egypt and this agreement reinforces Masdar and the UAE’s commitment to Egypt to realize its massive clean energy and green hydrogen potential, alongside our Africa renewable energy champion IPH,” he said.
The agreement was signed on the sidelines of the Egypt-EU Investment Conference, witnessed by high-ranking Egyptian officials, including Prime Minister Dr. Moustafa Madbouly.
Interested in hearing more about the oil, gas and energy industry? Attend AOW, 7-10 October 2024:
Under the JDA, bp assumes the role of lead developer and operator on behalf of the consortium. The partners will combine their respective projects and evaluate the feasibility of a multi-phase development, focusing on exports. A framework agreement has been signed with the Egyptian government to conduct studies and activities to evaluate the project’s technical and commercial viability.
The project aligns with Egypt's energy transition plans, which aim to increase the share of renewables in its energy mix.
Last year, Infinity Power, a joint venture between Egyptian company Infinity and UAE-based Masdar, signed an agreement with Egypt's New and Renewable Energy Authority to secure land for a 10 GW capacity onshore wind farm. The project, one of the world's largest wind farms, is being developed in association with Masdar and Hassan Allam Holding.
This latest agreement builds on the existing partnership, leveraging the expertise of the consortium members to drive sustainable energy solutions in Egypt.
“We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country,” bp's Regional President for the Middle East and North Africa, Nader Zaki, said in an official statement.
“The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt's energy transition plans.”
Mohammad Abdelgader El Ramahi, Masdar's Chief Green Hydrogen Officer, welcomed bp to the consortium, reinforcing Masdar's commitment to driving green hydrogen development globally.
“We already have plans to develop green hydrogen projects in Egypt and this agreement reinforces Masdar and the UAE’s commitment to Egypt to realize its massive clean energy and green hydrogen potential, alongside our Africa renewable energy champion IPH,” he said.
The agreement was signed on the sidelines of the Egypt-EU Investment Conference, witnessed by high-ranking Egyptian officials, including Prime Minister Dr. Moustafa Madbouly.
Interested in hearing more about the oil, gas and energy industry? Attend AOW, 7-10 October 2024:
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