BP has entered into a joint development agreement to join an existing consortium in Egypt, aiming to explore the potential development of a multi-phase green hydrogen project.
The consortium includes Masdar, Hassan Allam Utilities, and Infinity Power, with BP set to act as the main developer and operator of the project.
The partners are merging their respective green hydrogen projects in Egypt and exploring the feasibility of a large-scale initiative focused on green hydrogen and its derivatives, particularly for export purposes.
The newly formed consortium has signed a framework agreement with the Egyptian government to initiate a series of studies and activities assessing the technical and commercial viability of the project. The agreement was formalized during the Egypt-EU Investment Conference.
Nader Zaki, BP's regional president for the Middle East and North Africa, commented, “We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country. Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavors for a more sustainable energy future. 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.”
