DNV to support Egypt in its energy transition and decarbonization ahead of COP 27 which will be held in the country this November

DNV to support Egypt in its energy transition and decarbonization ahead of COP 27 which will be held in the country this November

(PRESS RELEASE) CAIRO, 24-Feb-2022 — /EuropaWire/ — DNV, the independent energy expert and assurance provider, has announced it signed a memorandum of understanding (MOU) with the Egyptian Natural Gas Holding Company (EGAS) for the development of a supporting hub to evaluate the technical and economic feasibility of decarbonizing the Egyptian Petroleum sector. During the signing ceremony were present HE the Egyptian Minister of petroleum and gas and the Norwegian Embassy in Cairo. The collaboration paves the way to great mutual achievements for energy transition and decarbonization in Egypt, where COP 27 will be held in November, 2022.

The MOU is in response to the growing market, public, and regulatory pressure on the oil and gas industry to reduce greenhouse gas (GHG) emissions.

The purpose of the MOU is to support the development of national or regional strategies and roadmaps related to the Petroleum sector, and support EGAS’ energy transition plan, including the introduction of low carbon energy.

In addition, DNV will evaluate production, transportation, storage and end-use of low-carbon hydrogen and its derivatives, as well as analyzing options for deployment of Carbon Capture, Utilization, and Storage (CCUS).

The scope will also identify the necessary rules and regulations for energy sources including hydrogen/ammonia, find the optimum scenarios regarding transporting/exporting hydrogen produced in Egypt, repurposing of natural gas infrastructure/facilities for CO₂ use or low carbon hydrogen service/projects and finally apply the Certification and Accreditation Mechanism for the low-carbon hydrogen/ammonia value-chain.

“Our goal is to support nations like Egypt, leading companies and hard to abate sectors striving to go below zero before 2050. Those are key factors to achieve the ambitions of the Paris Agreement. This memorandum of understanding is a positive commitment and will be a great hub for knowledge sharing in Egypt and beyond” said Santiago Blanco, Executive Vice-president and Regional Director Southern Europe, Middle East and Latin America, Energy Systems at DNV.

DNV’s recent Energy Transition Outlook report identified that by 2050 emissions in the Middle East and North Africa region are expected to be reduced by 10% compared with 2019. This is equal to energy-related emissions of 2.5 GtCO2/yr. The signing of the MOU and the activities this can bring show the intent of Egypt to contribute strongly to this reduction.

Media contacts:

Valeria Banús
Marketing and Communications Manager South Europe, Middle East and Latin America
contact.energysystems@dnv.com

Neil James Slater
Head of Media Relations, Energy Systems
Phone: +44 2038165702
contact.energysystems@dnv.com

SOURCE: DNV AS