Egypt petroleum sector signs 7 MOUs in COP27
The Egyptian gas and petroleum sector made great strides on the sidelines of COP27, taking place in Sharm El-Sheikh, by signing 7 memoranda of understanding.
The deals aim at mitigating carbon emissions and boosting greener practices in the sector.
The Egyptian Natural Gas Holding Company (EGAS) signed 4 deals. The first was with SeaSplit technologies and General Electric, who will help EGAS decarbonize its industrial activities that take place along the Gulf of Suez.
The 2nd agreement was with Shell Egypt for limiting the emission of greenhouse gases. And the 3rd MOU involved Toyota Tsusho from Japan and the Egyptian Petrochemicals Holding Company (ECHEM) concerning a blue ammonia study project.
The 4th MOU was with for a sustainability roadmap for Egypt’s economic development with the help of Microsoft Egypt.
On the other hand, the Egyptian Liquefied Natural Gas Co. agreed to conduct a study on flare gas recovery along with a consortium of companies, led by Bechtel and including Enppi, PETROJET and Baker Hughes.
More decarbonization projects were initially agreed in the MOU signed by the Egyptian General Petroleum Corporation (EGPC), EGAS and Total Energies from France.
Minister of Petroleum and Mineral Resources Tarek El Molla attended the signings and confirmed Egypt’s efforts in learning from global expertise in limiting carbon emissions or decarbonization, as a way for achieving environmental and economic sustainability.