bp has entered into a Joint Development Agreement (JDA) to become a part of the existing consortium, which includes Masdar, Hassan Allam Utilities, and Infinity Power.
This collaboration aims to explore the potential for developing a multi-phase green hydrogen (gH2) project in Egypt.
bp to Lead Development and Operations:
Under the terms of the JDA, bp will assume the role of the primary developer and operator of the project on behalf of the consortium. The partners will combine their individual gH2 projects in Egypt and investigate the possibility of creating a single, large-scale, multi-phase project focused on the production of gH2 and its derivatives, primarily for export.
The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government. This agreement allows them to initiate a series of studies and activities to assess the technical and commercial feasibility of the proposed project.
Signing Ceremony at Egypt-EU Investment Conference:
The signing of the FWA took place during the Egypt-EU Investment Conference, with the presence of prominent Egyptian officials including Dr. Moustafa Madbouly (Prime Minister of Egypt), Dr. Mohamed Shaker (Minister of Electricity and Renewable Resources), and Dr. Hala El-Said (Minister of Planning and Economic Development).
The FWA was signed by Nader Zaki (bp’s Regional President of the Middle East and North Africa), Andreas Bieringer (Director of Green Hydrogen Business Development and Commercial at Masdar), Karim Hefzy (Chief Operating Officer of Hassan Allam Utilities), and Mohamed Mansour (Chairman of Infinity Power).
bp’s Commitment to Egypt:
Nader Zaki expressed his satisfaction that the signing coincided with bp’s 60th anniversary in Egypt, emphasizing the company’s ongoing commitment to the country. He highlighted the diverse experiences of the partners and the potential for regional cooperation and access to global markets, ultimately supporting Egypt’s energy transition plans.
Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer, welcomed bp’s addition to the consortium, noting the established relationship between the companies.
He emphasized Masdar’s ambition to drive green hydrogen development globally and reaffirmed the UAE’s commitment to helping Egypt realize its significant clean energy and green hydrogen potential, alongside their African renewable energy champion, IPH.
Hassan Allam Utilities’ Perspective:
Amr Allam, co-CEO of Hassan Allam Holding, viewed the collaboration as a major step towards advancing green hydrogen development and establishing Egypt as a key player in this sector.
Felipe Arbelaez, bp’s SVP Hydrogen and CCS, recognized the importance of hydrogen in the future of global energy and expressed the company’s eagerness to collaborate with partners to unlock hydrogen’s potential in Egypt’s energy landscape.
Infinity Power’s Commitment to Green Investment:
Mohamed Mansour, Chairman of Infinity Power, highlighted the addition of another partner as a testament to the consortium’s ambition and dedication to collaborative innovation for new green investments in Africa.