Under the MoU, a study will be conducted to assess joint projects for the production of green hydrogen using electricity generated from renewable energy and blue hydrogen using the storage of CO2 in depleted natural gas fields, according to a statement by the Ministry of Petroleum on Thursday.
The study will also estimate the potential local market consumption of hydrogen and export opportunities.
This agreement is part of Eni's objective to achieve zero net emissions by 2050 and Egypt's strategy towards diversifying the energy mix and developing hydrogen projects in collaboration with major international companies.
It signed the deal with Egyptian Natural Gas Holding (EGAS) and Egyptian Electricity Holding Co. (EEHC).
The companies will carry out a joint study on producing renewable energy powered green hydrogen. They will also work on blue hydrogen. This involves reforming natural gas and capturing the resulting CO2, in this instance in depleted natural gas fields.
The study will also consider domestic hydrogen use and export options.
Eni said the MoU was in line with its plans to eliminate net emissions and emissions cancel emission intensity by 2050. The company noted the agreement was in line with Egypt’s plan for the energy transition, in which it pursues hydrogen plans with major international companies.