Egypt inks 7 carbon-cutting deals with global companies at COP27

Egypt inks 7 carbon-cutting deals with global companies at COP27
Egypt inks 7 carbon-cutting deals with global companies at COP27

Arabnews24.ca:Saturday 12 November 2022 07:48 AM: Seven memorandums of understanding (MoUs) and agreements have been signed between the national gas and petroleum sector and a number of international companies on the margins of the ongoing global climate conference (COP27) in Sharm El Sheikh.

The deals were inked in the presence of Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla as part of his ministry’s efforts to boost the oil and gas industry and enhance its carbon-cutting capabilities and environmental sustainability, while capitalizing on the expertise and practices of relevant global companies.

They include an MoU between the Egyptian Natural Gas Holding Company (EGAS) and Shell Egypt to establish a framework for managing greenhouse gas emissions, and an MoU signed by EGAS, SeaSplit Technologies, and General Electric to decarbonize industrial activities along the Gulf of Suez.

Meanwhile, the Egyptian Liquefied Natural Gas Co. has signed an agreement with a Bechtel-led consortium, comprising the Engineering for the Petroleum & Process Industries (Enppi), Baker Hughes, and PETROJET, to prepare the feasibility study of a flare gas recovery project.

In addition, the Egyptian General Petroleum Corporation (EGPC) and EGAS signed an MoU with France’s Total Energies SE for cooperation on evaluating the technical and economic viability of decarbonisation solutions. EGAS has also signed an MoU with Microsoft Egypt on a sustainability roadmap for the Egyptian company.

Moreover, an initial agreement has been signed by EGAS, the Egyptian Petrochemicals Holding Company (ECHEM), and Japan’s Toyota Tsusho Corporation to conduct a feasibility study for a blue ammonia project.

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