DNV, a global energy expert and assurance provider, has signed a memorandum of understanding (MoU) with PETROJET, a leading Engineering-Procurement-Construction (EPC) contractor in the region. The partnership aims to advance the energy transition in Egypt by focusing on the development of green hydrogen and its derivatives, including ammonia.
Under the MoU, DNV will lend its technical expertise in design verification and project assurance to support PETROJET, which aspires to play a pivotal role as a green hydrogen EPC contractor. The collaboration also encompasses renewable power generation, energy storage projects, technical studies for natural gas and hydrogen atural gas blend infrastructure, and other services for CO2 or low-carbon hydrogen initiatives.
The agreement was formalized during the Egypt Petroleum Show (EGYPS 2023) in the presence of HE Tarek El-Molla, Minister of Petroleum and Mineral Resources, and HE Hilde Klemetsdal, Ambassador of Norway. The signing ceremoy featured Waleed Lotfy Hamed, Chairman & Managing Director of PETROJET, and Hisham El-Grawany, DNV’s Vice President and Area Manager for North Africa.
Santiago Blanco, Executive Vice President and Regional Director Southern Europe, Middle East, and Latin America, Energy Systems at DNV, expressed their commitment to the goals of the Paris Agreement and the significance of supporting the growth of a robust hydrogen economy. He emphasized that scaling up green hydrogen is crucial for hard-to-abate sectors striving to achieve Net Zero emissions by 2050.
Hisham El-Grawany highlighted Egypt’s immense potential for cost-effective production of low-carbon hydrogen and its derivatives. Situated at a strategic geographic nexus, the country is poised to become a prominent global supplier in the emerging hydrogen market, with expectations of being the main exporter of pure hydrogen to Europe.
Egypt is making significant strides toward becoming a hydrogen powerhouse, with estimated invstments surpassing $100 billion. Following COP 27 last November, several Middle-Eastern and European players announced projects, totaling a combined production capacity of 2.1 million tonnes per year (Mt/yr). The country’s commitment to diversifying its energy sources, accelerated renewable energy programs, and the revised target of achieving 42% renewable power by 2030 have positioned Egypt as an export hub for low-carbon LNG and green ammonia.
The collaboration between DNV and PETROJET signifies a significant step forward in Egypt’s energy transition journey and underscores the country’s potential to contribute to the global green hydrogen market. With the support of strategic partnerships and investments, Egypt is well-positioned