Norway-based assurance provider DNV and Egypt's state-owned EPC contractor Petrojet will partner on the development of green hydrogen and its derivatives in Egypt.
The two companies signed a memorandum of understanding (MoU) at the Egypt Petroleum Show in the presence of Egypt's petroleum minister Tarek El-Molla and Norway's ambassador to the North African country Hilde Klemetsdal.
Do you know we have a daily hydrogen newsletter? Subscribe here for free!
As part of the cooperation, DNV will provide technical expertise in design verification and project assurance to Petrojet which aims to establish itself as an engineering, procurement and construction (EPC) contractor for green hydrogen.
The scope of the pact envisages also support in the areas of renewable power generation and energy storage projects, technical studies for natural gas and hydrogen/natural gas blend infrastructure, and other technical services, DNV said on Wednesday.
“Egypt has great potential for the cost-effective production of low-carbon hydrogen and its derivatives, and is at a geographic nexus," said Hisham El-Grawany, DNV’s Vice President and Area Manager for North Africa.
"Our energy transition research shows that the region is set to become a key global supplier in the emerging global hydrogen market, and is expected to be the main exporter of pure hydrogen to Europe,” El-Grawany added.
Cairo-based Petrojet currently operates as a construction contractor offering a diversified spectrum of services to the oil, gas, petrochemical, infrastructure and industrial sectors in Egypt, the Middle East and Africa. Its green hydrogen ambitions support Egypt's aspirations to become a hydrogen powerhouse. The North African country has already drawn the interest of local and international developers with estimated investments in planned projects exceeding USD 100 billion (EUR 91.9bn).
(USD 1 = EUR 0.919)