BP has entered into a Joint Development Agreement (JDA) to join the existing consortium comprising of the UAE's Masdar, Egypt's Hassan Allam Utilities and Infinity Power to explore the potential development of a multi-phase green hydrogen  project in the Arab country.

Under the JDA, BP will act as the main developer and operator of the project on behalf of the consortium, the oil and gas giant said in a press statement.

It said the partners are combining their respective green hydrogen projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of green hydrogen and its derivatives, with a focus on exports.

The newly formed consortium signed a Framework Agreement (FWA) with the Egyptian government on the sidelines of the Egypt-EU Investment Conference to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.

BP currently produces around 70 percent of Egypt’s gas.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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