Egyptian state-owned oil companies signed seven memoranda of understanding (MoUs) with international companies in areas of sustainability and decarbonization, according to an official statement on November 12th.

Egyptian Natural Gas Holding Company (EGAS) signed a MoU with Shell Egypt to set a framework for managing and reducing greenhouse gas emissions in the operations of all of EGAS’ partners.

Another MoU was signed by EGAS with SeaSplit Technologies and General Electric for the decarbonization of industrial activities in the Suez Gulf.

Under the protocol, the three companies plan to conduct technical and economic feasibility studies for developing 1.5 gigawatts of wind energy in the Suez Gulf in partnership with the Egyptian oil sector.

The liquefied natural gas producer Egyptian LNG awarded a feasibility study contract to a coalition led by the American construction company Bechtel.

Another MoU was signed between EGAS, the Egyptian General Petroleum Corporation (EGPC), and TotalEnergies to assess a technical and economic feasibility study of decarbonization solutions in the petroleum sector.

Moreover, EGAS inked a MoU with Microsoft Egypt for cooperation in the development of a sustainability roadmap.

EGAS also signed a preliminary agreement with the Egyptian Petrochemicals Holding Company (ECHEM), and Japan’s Toyota Tsusho Corporation to conduct a feasibility study of a blue ammonia production project in Egypt.

EGAS signed another MoU with the UK’s Hiiroc to reduce gas flaring emissions and launch a zero-emission hydrogen project using the British company’s thermal plasma electrolysis technology.
Source: Arab Finance