The Suez Canal Economic Zone (SCZONE) is taking further steps to prepare the groundwork for the production of green fuels for the export market and for bunkering with the signing of six Memoranda of Understanding (MoU) with international companies and consortia for the production of green hydrogen and green ammonia in Sokhna.
The agreements cover a total investment of $10 billion which will be used to develop industrial facilities and complexes in integrated zones in Sokhna and, eventually, East Port Said.
The MoUs were signed with the Norwegian company Scatec, the Abu Dhabi Future Energy Alliance (Masdar of the UAE), Hassan Allam Utilities, the French Total Eren, the Egyptian Enara Capital, Maersk, the French EDF Renewables, the Egyptian Zero-Waste, and finally the UAEs AMEA Power
All the companies are currently conducting detailed feasibility studies for projects with the aim of announcing contracts to coincide with Egypts hosting of the COP27 Climate Change Summit.
As previously reported, in April two memoranda of understanding for projects were signed one of which aims to produce green fuel for bunkering in the SCZONE.
The first MoU was signed by the General Authority of Suez Canal Economic Zone, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company, the Authority of New and Renewable Energy, and EDF Renewables and Zero-Weste Egypt Alliance.
The second MoU was signed between the Egyptian government parties and AMEA Power UAE which is affiliated with Al Nowais Group.
Back in March, Maersk and the Egyptian authorities signed a partnership agreement to explore the feasibility of setting up large-scale hydrogen and green marine fuel production facilities in Egypt, with the shipping giant acting as a committed offtaker.