Italy-headed oil and gas major Eni S.p.A. has announced that it has signed an agreement with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to assess the technical and commercial feasibility of projects for the production of hydrogen in the country.
According to a statement, the parties will conduct a study into joint projects to produce green hydrogen, using electricity generated from renewables, and blue hydrogen, through the storage of carbon dioxide (CO2) in depleted natural gas fields.
The study will also analyze the potential local market consumption of hydrogen and export opportunities. In addition, possible development and business schemes will be evaluated to implement the selected projects.
The agreement, Eni says, is part of the path that the company has undertaken to reach the target of eliminating Scopes 1, 2, and 3 net emissions – net greenhouse gas (GHG) lifecycle emissions – and canceling out the relative emission intensity – net carbon intensity (CI) – by 2050, referring to the entire life cycle of the energy products sold.
The agreement comes in the framework of Egypt’s strategy for energy transition, diversifying its energy mix and developing hydrogen projects in cooperation with major international companies.
Eni has been present in Egypt since 1954 and operates through the subsidiary IEOC Production.
