Egypt

Egypt targets 8% of global hydrogen market

Published on : 2023-12-07

Egypt is pushing ahead with major green hydrogen projects to become a key exporter and control almost 8 percent of the global hydrogen market by 2040, the country’s Petroleum and Mineral Resources Minister has said.

Tariq Al-Mulla said in remarks at COP28 conference in Dubai that the government has approved some projects, including hydrogengreen, in that will be carried out in partnership with the Norway's Scatec.

In his remarks published by Egypt’s Arabic language daily Addustour on Thursday, the Minister said these projects constitute a major step in Egypt’s drive to become a “regional hydrogen and green fuel hub.”

“Our expectations indicate that green hydrogen projects to be carried out in Egypt will boost their contribution to GDP by nearly $18 billion and create at least 100,000 jobs for Egyptian in 2040,” Mulla said.

“Egypt has also set a target to become a major green hydrogen exporter and to control about 8 percent of the global hydrogen market during that period,” he added.

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The Minister stressed the importance of expediting the implementation of strategic projects, particularly the ozoris and Atoll fields, and connecting their production to the national grid, reaffirming the Ministry’s full support for this direction.