Italian energy giant Eni has signed an agreement with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to assess projects of hydrogen production in Egypt.
Eni has been present in Egypt since 1954 and operates through the subsidiary IEOC Production.
Eni, EEHC and EGAS will study joint projects to produce green and blue hydrogen. Green hydrogen is using electricity generated from renewables, while blue hydrogen is made through the storage of CO2 in depleted natural gas fields.
The study will also analyze the potential local market consumption of hydrogen and export opportunities.
Possible development and business schemes will be evaluated to implement the selected projects.
The agreement is part of Eni’s plan to reach the target of eliminating Scopes 1, 2 and 3 net emissions (net GHG lifecycle emissions) and canceling out the relative emission intensity (net carbon intensity) by 2050.
It aligns with Egypt’s strategy for energy transition, diversifying energy mix and developing hydrogen projects in cooperation with major international companies.