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Italian oil and gas company Eni announced on Thursday that it has signed an agreement with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to assess the technical and commercial feasibility of projects for the production of hydrogen in the country.
The parties will conduct a study into joint projects to produce green hydrogen, using electricity generated from renewables, and blue hydrogen, through the storage of CO2 in depleted natural gas fields.
The study will also analyse the potential local market consumption of hydrogen and export opportunities, and business models to implement the selected projects.
Eni has set a target to eliminate Scopes 1, 2 and 3 net emissions (Net GHG Lifecycle Emissions) and cancelling out the relative emission intensity (Net Carbon Intensity) by 2050.
(Writing by N Madhura; Editing by Anoop Menon)
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