BP has entered into a joint development agreement to join the existing consortium comprising of Masdar, Hassan Allam Utilities and Infinity Power to explore the potential development of a multi-phase green hydrogen project in Egypt.
Under the JDA, the UK oil and gas major will act as the main developer and operator of the project on behalf of the consortium.
The partners are combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports.
The newly formed consortium has signed a framework agreement with the Egyptian government to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.
The agreement was signed on the sidelines of the Egypt-EU Investment Conference
Nader Zaki, BP’s regional president for the Middle East and North Africa, said: “We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country.
“Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavors for a more sustainable energy future.
“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.”