Dubai: The UK energy company bp will join a consortium featuring the Abu Dhabi’s Masdar, Hassan Allam Utilities and Infinity Power for a ‘potential’ development of a green hydrogen (gH2) project in Egypt.
This will see bp act as the main developer and operator of the project on behalf of the consortium.
The consortium already has a Framework Agreement (FWA) with the Egyptian government to carry out a set of studies and activities to ‘evaluate the technical and commercial feasibility of the project’.
The partners are combining their respective green hydrogen projects in Egypt and, at the same time, explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives. The focus will be on exports.
"We welcome the addition of bp to the consortium, building on the well-established existing relationship between our companies and supporting Masdar’s ambition to drive the development of green hydrogen around the world," said Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer.
"We already have plans to develop green hydrogen projects in Egypt - 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.”
Sizable Egypt presence
Along with partners, bp currently produces around 70 per cent of Egypt’s gas. It operates the West Nile Delta gas development, which includes five gas fields across the North Alexandria and West Mediterranean Deepwater offshore concession blocks in the Mediterranean Sea.
Incidentaly, bp and ADNOC recently agreed to form a new gas JV in Egypt, with the UK company holding 51 per cent. It sees bp contributing its interests in three development concessions and exploration agreements to the JV, while ADNOC makes a proportionate cash contribution for future growth opportunities.
