By: Egypt oil & gas

Egypt is developing investment incentive packages with the goal of capturing an 8% share of the global green hydrogen market, targeting production of up to 10 million tons per year in the coming decades. Minister of Petroleum and Mineral Resources Karim Badawi announced this during the 4th Oman Green Hydrogen Summit, highlighting Egypt's strategic geographic position as a gateway linking Africa and Europe. He emphasized the advantages of the Suez Canal and the Suez Canal Economic Zone (SCZONE) in establishing hydrogen supply chains and supporting green energy industries.

Badawi cited the ongoing green ammonia project in Damietta, in partnership with Norwegian companies, as a key initiative that will use 480 megawatts of renewable power. He also stressed the importance of developing critical minerals to support the renewable energy sector, aligning with Egypt's goal to have 42% of its power from renewables by 2030. On the sidelines of the summit, Badawi met with Oman's Minister of Energy and Minerals to discuss enhancing cooperation in oil, gas, and mining, including joint projects and knowledge exchange.