Egypt is preparing new investment incentive packages aimed at raising its share of the global green hydrogen market to 8%, with a projected production capacity of 10 million tonnes per year in the coming decades, Minister of Petroleum and Mineral Resources Karim Badawi said at the opening ministerial session of the 4th Oman Green Hydrogen Summit, reports Egypt Oil & Gas Group.
Badawi pointed to Egypt’s strategic location as a natural gateway to Africa and a link to Europe, supported by existing energy interconnection projects with Cyprus and Greece. He also underscored the central role of the Suez Canal in future hydrogen supply chains.
He said the Suez Canal Economic Zone (SCZONE) strengthens this position, offering infrastructure for renewable energy projects, green industries, and facilities capable of supplying ships with green fuels.
Badawi highlighted the green ammonia project at the Misr Fertilizers Production Company (MOPCO) complex in Damietta, developed in partnership with Norway’s Scatec and Yara International. Signed in July 2024, the project aims to use 480 MW of solar and wind power to produce 150,000 tonnes of green ammonia annually, beginning in 2027.
He also emphasised the importance of maximising the use of critical and rare minerals needed for renewable energy projects, noting their essential role in the green hydrogen sector. This aligns with Egypt’s goal of raising renewable energy’s share in power generation to 42% by 2030.
Badawi reiterated Egypt’s readiness to cooperate with Oman, recognising the progress Oman has made in developing its hydrogen industry. He expressed interest in exchanging expertise, best practices, and technology to advance green hydrogen development in both countries.
On the sidelines of the summit, Badawi met Oman’s Minister of Energy and Minerals, Salim bin Nasser Al Aufi, to strengthen cooperation in the oil, gas and mining sectors. The two sides discussed expanding the presence of Egyptian petroleum companies in Oman, including work on infrastructure projects and household natural gas supply. They also reviewed plans for sharing expertise and conducting training programmes in natural gas and petrochemicals between the Egyptian Natural Gas Holding Company (EGAS) and Oman Oil Company (OQ).
Badawi also highlighted new mining investment opportunities under a Memorandum of Understanding signed earlier this year, noting the sector’s current growth in Egypt. He concluded by inviting Al Aufi to attend the Egypt Energy Show (EGYPES) in 2026.
