The European Bank for Reconstruction and Development (EBRD) has signed a memorandum of understanding with Egypt’s Ministry of Electricity and Renewable Energy and Ministry of Petroleum and Mineral Resources to establish a framework for assessing the potential of low-carbon hydrogen supply chains in the North African country.
The bank’s assessment will include mapping the current and future expected international supply and demand of the hydrogen market, analysing existing and potential hydrogen production in Egypt and valuing the storage, conversion and transportation of hydrogen and its derivatives.
The EBRD will also help to conduct a regulatory analysis and assessment of the changes needed to support the development of hydrogen supply chains in Egypt while ensuring the safety, reliability, competitiveness and sustainability of supply.
The assessment will provide guidelines for the country’s low-carbon hydrogen strategy, promoting the sustainable development of hydrogen as a decarbonised fuel for climate change mitigation, while ensuring cost effectiveness and identifying potential areas for investment, EBRD said.
Egypt’s Minister of International Cooperation Rania Al-Mashat said: “Utilising low-carbon hydrogen is a key step towards mitigating climate change as the country moves to using clean and renewable energy.”
EBRD vice president for policy Mark Bowman said: “We are very proud to contribute to Egypt’s future national low-carbon hydrogen strategy, which is in line with the Bank’s commitment to mitigating climate change where it invests.
“The bank has been a strong supporter of renewable energy development in Egypt, providing policy advice, technical assistance and financing. Our aim is to back the country in achieving another milestone.”