Back to the complete issue
Thursday, 8 July 2021

One plus one makes two

Eni is on board with the government’s clean hydrogen plans: Italy’s Eni will work on feasibility studies to produce green and blue hydrogen under an MoU signed with state-owned Egyptian Natural Gas Holding Company (EGAS). Eni will help authorities explore projects to produce green hydrogen from renewable energy, as well as open itself up to partnerships with the government on either green hydrogen production or other projects to produce blue hydrogen using carbon dioxide stored at mature natural gas fields it operates in Egypt, according to a government press release (pdf). Eni will also conduct market research to estimate how much of the produced hydrogen will be needed domestically, and how much can be shipped abroad.

Eni joins Siemens as the second global energy player to sit down with government officials in recent months as authorities work toward a pilot project to produce green hydrogen in Egypt as an alternative source to power industry and eventually be exported abroad. The government is expecting to integrate green hydrogen, which is produced without burning fossil fuels, into its 2035 energy strategy.

How big are those plans? Electricity Minister Mohamed Shaker said last month that we’ll be seeing major announcements soon, and that the early stages of green hydrogen production could cost some USD 3-4 bn at its early stages. Studies for one of several planned green hydrogen plants is expected to be finalized and presented to the Sovereign Fund of Egypt, which was said to be taking in promoting green hydrogen to the private sector.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt.