Egypt, EU sign hydrogen strategic partnership MoU

Minister of Petroleum and Mineral Resources Tarek El Molla has participated in signing of a memorandum of understanding (MoU) with the European Union (EU) for cooperation on green hydrogen and its derivatives production, consumption, and trade.

The MoU was signed on the sidelines of COP27, held in Sharm El Sheikh. It aims to encourage and boost investments in the infrastructure needed for hydrogen distribution, storage, and export as well as generating renewable energy.

Additionally, a joint declaration was signed in the frame of the Nouwfi project to support it with the needed water, food, and energy with EUR 35 million in support. 

During his speech, El Molla affirmed this MoU came as one solution developed for securing clean energy resources with zero carbon in the shadow of global energy crises. He noted that hydrogen is one of the best solutions to overcome such crises.

The minister added that this MoU reflects the going forward of Egypt along with the EU to achieve a strategic vision in energy cooperation and achieve The Paris Agreement’s goals. He also presented the latest Egyptian efforts with its international partners to invest in the country’s hydrogen capabilities to become a regional hub for low-carbon hydrogen soon.