Egypt has signed an agreement worth $3 billion to produce up to 350,000 tonnes of green fuel annually for ships passing through the Suez Canal, the Egyptian Cabinet and the Suez Canal Economic Zone said on Wednesday.
The deal for the green hydrogen megaproject in Ain Sokhna on the Red Sea was signed between the government and the “Green Fuel Alliance” consortium led by French firm EDF Renewables and Egyptian company Zero Waste.
The Egyptian government was represented by the General Authority for the Suez Canal Economic Zone (SCZone), the Ministry of Electricity, the Authority of New and Renewable Energy and the Sovereign Fund of Egypt.
“The SCZone welcomes the opportunity of partnering with the distinguished public and private entities joining forces for the development of this megaproject,” said Yehia Zaki, chairman of the general authority for the SCZone, which spans a 461-square-kilometre area.
“We look forward to witnessing its execution over the coming months as a first step towards the adoption of the green ammonia technology and creation of a green fuels industrial hub in the SCZone.”
Egypt also signed an agreement with the UAE’s AMEA Power, which is affiliated with Al Nowais Group, to produce up to 390,000 tonnes of green ammonia a year in Ain Sokhna.
“The Egyptian state, under the leadership of President Abdel Fattah El Sisi, is keen to sign more projects that support the transition to a green economy,” said Egyptian Prime Minister Mostafa Madbouly.
“Every effort in this regards is consistent with Egypt’s enormous capabilities to produce green hydrogen and green ammonia.”
The country is seeking to position itself as a regional energy hub and has been ramping up its green hydrogen ambitions in recent months, especially as it is set to host the Cop27 climate summit in Sharm El Sheikh in November.
Last month, Egypt signed an agreement with Norway’s Scatec to build the country’s first green ammonia plant at a cost of $5bn with a production capacity starting at 1 million tonnes annually and increasing to 3 million tonnes. The project in Ain Sokhna’s industrial zone is expected to start production in 2025.
Hydrogen is projected to account for 12 per cent of global energy use and 10 per cent of carbon dioxide emissions reductions by 2050, driven by climate change urgency and countries’ commitments to net zero, according to the International Renewable Energy Agency.
Current annual hydrogen sales represent a market value of about $174bn, which already exceeds the value of annual trade in liquefied natural gas, and could grow to $600bn by 2050.
The first phase of the latest project is planned for 2026 and second phase for 2030.
The bunkering fuel will be used to service Suez Canal maritime traffic to help accelerate the timeline of the maritime industry to reach net zero emissions, SCZone said.
“Developing a megaproject for green hydrogen and ammonia production in Egypt will be a key milestone for the region,” said Frederic Belloy, EDF Renewables’ vice president of international operations.
It will also “create local job opportunities in the country and support the decarbonisation process of some of the most intensive carbon-producing industries, which are transportation and mobility”.
EDF Renewables is a subsidiary of the EDF Group in which the French government holds an 84 per cent stake. It develops, builds and operates renewable power plants in about 22 countries.
Zero Waste, an Egyptian company that initiated the concept of green fuel bunkering stations, will work with EDF Renewables on the project.
“By offering zero-carbon fuel to the maritime industry crossing the Suez Canal by 2026, Egypt will continue to be a leader in the fight against climate change,” said Zero Waste chairman Amr Elsawaf.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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Match info
Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
Maratha Arabians 89-2
Chadwick Walton 51 not out
Arabians won the final by eight wickets
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- Nord Anglia International School (Dubai) – Dh85,032
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- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
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Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
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Label: Warner Records
Number of tracks: 11
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THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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A list of the animal rescue organisations in the UAE
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Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
