Egypt Green Hydrogen Secures 397-Million-Euro Contract To Export Green Ammonia To Europe
Date
7/13/2024 10:24:23 AM
(MENAFN- Nam News Network)
CAIRO, Jul 13 (NNN-MENA) – The Suez Canal Economic Zone (SCZone), announced that, the Egypt Green Hydrogen project in the SCZone, has secured a 397-million-euro (about 433-million-U.S. dollar) contract to export green fuel to Europe, said a statement by the Egyptian cabinet, yesterday.
Under the contract, the Egypt Green Hydrogen project will supply green ammonia to Europe from 2027 to 2033, at a price of 1,000 euros per tonne.
Initially, 19,500 tonnes of ammonia will be supplied in 2027, with the potential to increase to 397,000 tonnes by 2033.
The Egypt Green Hydrogen project was launched by multinational ammonia exporter, Fertiglobe, in partnership with Scatec ASA, Orascom Construction, and the Egyptian Sovereign Fund, on the sideline of the 2022 United Nations Climate Change Conference (COP27) that Egypt hosted, in the Red Sea resort of Sharm el-Sheikh.– NNN-MENA
The contract is shared by the project's founders, according to the statement.
MENAFN13072024000200011047ID1108434182
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.