Egypt: bp partners with Masdar, others on green hydrogen project

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BP has entered into a joint development agreement (JDA) with Masdar, Hassan Allam Utilities, and Infinity Power to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.

Under the JDA, bp will serve as the main developer and operator of the project on behalf of the consortium.

The partners will combine their respective gH2 projects in Egypt and investigate the feasibility of a large-scale, multi-phase project focused on the development and export of green hydrogen and its derivatives.

Green hydrogen project aims to support energy transition

The newly formed consortium has signed a framework agreement (FWA) with the Egyptian government to initiate studies and activities assessing the project’s technical and commercial viability.

The FWA was signed by the entities at the Egypt-EU Investment Conference.

“Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavours for a more sustainable energy future,” said Nader Zaki, bp’s regional president for the Middle East and North Africa. “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 Abdelqader El Ramahi, Masdar’s chief green hydrogen officer, expressed enthusiasm about BP joining the consortium. “We welcome the addition of bp, 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.”

Amr Allam, co-CEO of Hassan Allam Holding, emphasised the significance of this collaboration. “Joining forces with BP, Masdar, and Infinity Power in this consortium is a significant step towards advancing the development of green hydrogen and anchoring Egypt as a key player in this sector.”

Nayer Fouad, CEO of Infinity Power, concluded, “We know Africa has abundant renewable resources, and this hydrogen export hub will take advantage of these resources and bring environmental and economic benefits to Egypt and other nations.

“Hydrogen power is an incredibly exciting technology, and this export hub can help to power green industry in Africa and beyond and strengthen Egypt’s role as a leader in green power.”