- As Egypt gears up to host the UN’s Cop27 climate change conference and summit in November this year, the country is also launching several projects to cut down its carbon footprints.
As Egypt gears up to host the UN’s Cop27 climate change conference and summit in November this year, the country is also launching several projects to cut down its carbon footprints.
Read also; https://trendsnafrica.com/egypt-to-host-cop-27-in-november/
Egypt accounts for 0.6% of the world’s carbon dioxide emissions. Cutting down carbon emissions is imperative to meet the Paris Agreement’s goal of capping the rise in global temperatures at 1.5°C or 2°C above pre-industrial levels.
Egypt and Italian energy company Eni have agreed to develop a joint project to capture and store carbon dioxide in the Meleiha field to reduce emissions. According to media, the project, with an estimated investment of $25 million, will capture and store between 25,000 and 30,000 tonnes of carbon dioxide annually.
Egypt’s first carbon capture and storage project at an investment of $600m, will focus on the extraction of algae oil to be used in biofuel production with an annual production capacity of 350,000 tonnes. The project is expected to cut down 1.2 million tonnes of carbon dioxide per year. The second project at an investment of $600m will focus on production of biodegradable plastics with a capacity of 75,000 tonnes and aims to reduce 45,000 tonnes of carbon dioxide per year. The objective of the third project at an investment of $50m is to convert plastic waste into oil that can be used for polyethylene production with an expected annual output of30,000 tonnes.
Egypt also proposes to include green hydrogen in its energy mix. A green hydrogen strategy is expected to be unveiled by October .A $ 3 billion waste-to hydrogen plant is being planned in East Port Said. Preliminary Agreements for the development of green hydrogen production plants in the Suez Canal Economic Zone have been signed last month with Abu Dhabi’s renewable energy company Masdar and Hassan Allam Utilities. Another agreement was signed in April with a consortium led by French company EDF Renewables and Egyptian company Zero Waste for a green hydrogen megaproject in Ain Sokhna on the Red Sea. The project is expected to produce about 350,000 tonnes of green fuel annually for ships passing through the Suez Canal.
Read Also; https://trendsnafrica.com/japan-keen-to-expand-investments-in-egypts-energy-sector/
