bp has entered into a Joint Development Agreement (JDA) to join a consortium comprising Masdar, Hassan Allam Utilities and Infinity Power to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.
Through the JDA, the oil and gas major will act as the main developer and operator on behalf of the consortium.
The consortium partners are reportedly combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports.
The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to start carrying out a series of studies and activities to evaluate the project’s technical and commercial feasibility.
The FWA agreement was signed on the sidelines of the Egypt-EU Investment Conference.
“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,” commented Nader Zaki, bp’s Regional President for the Middle East and North Africa.
Nayer Fouad, CEO of Infinity Power, added: “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.”