International

Egyptian petroleum sector sign 7 carbon-cutting deals with global companies at COP27

Published on : 2022-11-13

Egyptian gas and petroleum companies signed on Saturday seven memorandums of understanding (MoUs) and agreements with a number of international companies on the sidelines of the ongoing 27th UN Climate Change Conference (COP27) in Sharm El-Sheikh.

The deals come as part of the Ministry of Petroleum and Mineral Resource’s efforts to boost the oil and gas industry and enhance its carbon-cutting capabilities and environmental sustainability while capitalising on the expertise and practices of relevant global companies, Minister of Petroleum and Mineral Resources Tarek El-Molla said at the signing ceremony.

The deals 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 decarbonise industrial activities along the Gulf of Suez.

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

In addition, the Egyptian General Petroleum Corporation (EGPC) and EGAS signed an MoU with France's TotalEnergies SE to evaluate the technical and economic viability of decarbonisation solutions. EGAS 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 study the feasibility of a blue ammonia project.

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