Minister of Petroleum and Mineral Resources Tarek El Molla and Eni’s CEO Claudio Descalzi witnessed the signing of a memorandum of intent for the technological integration of flare gas reduction  and evaluation efforts and other emission reduction technologies between the Egyptian Natural Gas Holding Company (EGAS) and Eni, the Ministry said in a statement.

The memorandum was signed by Magdy Galal, President of EGAS, and Guido Brusco, Head of Natural Resources Operations at Eni.

According to the memorandum, the two companies will study and identify available opportunities for reducing greenhouse gas emissions in oil and gas sector projects in Egypt and prepare a master plan for the economic utilization of the gases resulting from these operations.

Therefore, EGAS and Eni will take important steps to reduce the burning of flare gases and emissions to the lowest technical level, evaluate and implement several initiatives to reduce greenhouse gases, including the construction of photovoltaic electricity units, and evaluate carbon capture, storage and use initiatives.

This memorandum comes within the framework of Egypt’s commitment to global initiatives aimed at preserving the environment, reducing emissions and confronting the effects of climate change. It is also a continuation of efforts and initiatives that were announced during COP27. In addition, it builds on the memorandum of understanding (MoU) that was signed in July 2021 between EGAS, the Electricity Holding Company and Eni, with the aim of cooperation in identifying and evaluating joint opportunities to support carbon removal by identifying job opportunities in the field of energy transition. This includes collecting, capturing, storing and using carbon, as Eni possesses advanced expertise and technologies in the field of reducing emissions and capturing and storing carbon and benefiting from it.

Eni confirmed its commitment to serious cooperation and partnership with EGAS in supporting the reduction of all types of harmful emissions, while making investments in the natural gas industry and energy efficiency, which will allow the use of flare gases in hydrocarbon production processes.