Egypt to speed up plans to export power and hydrogen to Europe.
New renewable-energy projects will enable Egypt to accelerate plans to become a major supplier of power and hydrogen to Europe, according to the country’s petroleum minister.
Egypt wants to send electricity to Cyprus and Greece through a cable that will run under the Mediterranean. It also aims to export hydrogen, which can be used as a fuel for power stations.
Tarek el-Molla said in an interview at the COP27 climate summit at the Egyptian resort of Sharm el-Sheikh, said:
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There’s a lot of advancement for this connectivity.
Discussions about the cable are progressing and Egypt could be ready to send power to Europe in five years, he said.
It’s still unclear who will fund the cable.
Abu Dhabi-based renewables firm Masdar is leading a consortium building an $11 billion wind farm in Egypt. It’s designed to eventually produce 10 gigawatts of power, roughly one-fifth of what the UK has today.
The electricity from the plant will be used locally and help with the nation’s goals of having roughly 40% of its energy mix made up of renewables by 2030, el-Molla said. Egypt recently pushed forward that target from 2035.
Other initiatives include stopping flaring at the country’s two liquefied natural gas export terminals and investing in carbon-capture technology.
“The momentum that we got from having hosted COP 27 will help us to boom and speed up projects for emissions reduction,” el-Molla said. The two-week summit is scheduled to end on Friday.
The country aims to be a hub for LNG shipments in the Mediterranean. It is seeking to increase Israeli supplies of the super-chilled gas to its terminals, he said.
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Egypt to Speed Up Plans to Export Power and Hydrogen to Europe, November 18, 2022
