Egypt signed  billion agreements in the green hydrogen and ammonia sectors on the sidelines of COP27 – VivAfrik

Egypt signed $83 billion agreements in the green hydrogen and ammonia sectors on the sidelines of COP27 – VivAfrik

While four North African countries namely Egypt, Mauritania, Morocco and Algeria are making great progress in the production and export of green hydrogen. However, these advances risk being jeopardized by difficulties to be overcome in terms of expertise and financing.

To deal with these difficulties, Egypt is multiplying agreements with international energy groups to position itself as a major player in the energy transition at a time when developed countries are seeking to wean themselves off fossil fuels for ecological and geopolitical reasons.

Thus, according to the Egyptian Minister of Planning and Economic Development, Hala Al-Saeed who spoke on Sunday November 20, 2022, the Egyptian authorities signed, on the sidelines of the 27th United Nations Climate Conference (COP27), agreements worth more than $83 billion with international energy groups for the construction of nine green hydrogen and ammonia production units.

“On the sidelines of COP27, Egypt has signed agreements with international companies worth a total of 83 billion dollars for the construction of nine green hydrogen and ammonia production complexes in the economic zone. of the Suez Canal”, declared the Minister in an interview granted to the information site Alborsa News, without revealing the names of these companies.

Continuing her remarks, she added that “together, and at full capacity, these projects are expected to produce 7.6 million tonnes of green ammonia and 2.7 million tonnes of green hydrogen per year, which will position the Egypt as a regional energy hub”.

The minister, who claims that renewable energies should represent 42% of Egypt’s energy mix by 2035, also specified that projects for green hydrogen and ammonia plants worth 16.5 billion will be completed by 2026, while production units requiring investments of $38 billion will be built between 2026 and 2030. Other projects with a total cost of $28.5 billion will be carried out between 2030 and 2035 .

Moctar FICOU / VivAfrik