Prime Minister Mostafa Madbouly chaired the fourth edition of the roundtable on the green hydrogen industry in Egypt, which was held in New Alamein City.
The roundtable was attended by Tarek El Molla, Minister of Petroleum and Mineral Resources; Mohamed Shaker, Minister of Electricity and Renewable Energy; and Hala El Said, Minister of Planning and Economic Development.
The attendees included Heike Harmgart, Managing Director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development (EBRD), and a number of representatives of major companies working in the field of green hydrogen as well as local and international renewable energy.
Madbouly said that Egypt has taken important measures that made it occupy a competitive position in the green hydrogen sector thanks to the state’s commitment to Egypt Vision 2030.
The Prime Minister also touched on the completion of the second update of the Nationally Determined Contributions Plan, through which Egypt aims to raise the share of renewable energy in the energy mix to 42% by 2030 instead of 2035.
The geographical proximity between Egypt and Europe is very important, especially with the expectations of an increase in the European continent’s dependence on clean energy and green hydrogen in the near future, stressing in this context that Egypt has the necessary infrastructure to produce green hydrogen and then export it to Europe, Madbouly noted.
The prime minister also explained that the Suez Canal crossings account for 15% of global maritime trade annually, which is an important opportunity to provide green fuel services to ships passing through the canal.
Egypt has succeeded in signing more than 20 memoranda of understanding with major companies developing green hydrogen, Madbouly pointed out. He added that 10 of these partnerships have been developed to the level of framework agreements to implement investments worth about $83 billion, to produce 15 million tons annually of green ammonia and manufactured green methane.
