EBRD backs low-carbon hydrogen in Egypt
The European Bank for Reconstruction and Development (EBRD)announced on March 7 it would assist Egypt in developing a national low-carbon hydrogen strategy.
The bank has signed a memorandum of understanding with Egypt's ministries for electricity and renewable energy, and petroleum and natural resources, under which it will assess the potential for creating low-carbon hydrogen supply chains in the North African country. Its assessment will include mapping out projections for future international hydrogen demand and supply, exploring the potential for hydrogen production in Egypt, and evaluating how hydrogen could be stored and transported. The bank will also look at how regulation in Egypt can be adjusted to support hydrogen development.
Egypt has re-emerged as a net exporter of natural gas in the last few years, and with an estimated 2.1 trillion m3 in proven reserves, some of its gas resources could be converted into blue hydrogen. It also has significant, but so far mostly untapped wind and solar energy potential, some of which could be used for creating green hydrogen from water.
"Utilising low-carbon hydrogen is a key step towards mitigating climate change as the country moves to using clean and renewable energy," Egypt's minister for international cooperation, Rania Al Mashat, said in a statement.