Egypt is currently developing investment incentive packages that aim to increase the country’s share of the global green Hydrogen market to 8% with an estimated production of 10 million tons per year (t/y) in the coming decades, Minister of Petroleum and Mineral Resources Karim Badawi stated during the opening ministerial session of the 4th Oman Green Hydrogen Summit.
Badawi highlighted the country’s unique geographic position in the Middle East, which serves as a natural gateway to Africa and a link to Europe, and already has energy interconnection projects with Cyprus and Greece. Moreover, he emphasized the importance of the Suez Canal as a central hub in hydrogen supply chains.
This, according to Badawi, is complemented by the Suez Canal Economic Zone (SCZONE), which has strong infrastructure to support renewable energy projects, green energy industries, and facilities to provide ships with green fuels.
Badawi highlighted the green ammonia production at Misr Fertilizers Production Company (MOPCO) complex in Damietta in cooperation with Norway’s Scatec and Yara International. The project, signed in July 2024, aims to utilize 480 megawatts from solar and wind energies to produce 150,000 t/y of green ammonia, starting in 2027.
Furthermore, he shed light on the role the sector plays in maximising the use of critical and rare minerals needed for renewable energy projects. This is essential for the green hydrogen industry and aligns with the country’s target to increase renewable energy’s contribution to generated power to 42% by 2030.
Finally, Badawi emphasized Egypt’s eagerness to cooperate with Oman, which has made progress in developing its hydrogen industry, and expressed interest in adopting best practices and exchanging knowledge, expertise, and technology with Omani counterparts.
On the sidelines of the summit, Badawi met with Oman’s Minister of Energy and Minerals, Salim bin Nasser Al Aufi, to boost cooperation between both countries in the oil, gas, and mining sectors.
Both sides reviewed opportunities to expand Egyptian petroleum companies’ presence in Oman, including their participation in infrastructure projects and delivering natural gas to households. They further discussed exchanging expertise and organizing training programs on the natural gas and petrochemicals front between the Egyptian Natural Gas Holding Company (EGAS) and Oman Oil Company (OQ).
Badawi pointed to promising mining investment opportunities under the Memorandum of Understanding (MoU) signed earlier this year, emphasizing the current growth of Egypt’s mining sector. He concluded by extending an invitation to Al Aufi to take part in the Egypt Energy Show (EGYPES) in 2026.
