Egypt launches national low-carbon hydrogen strategy

Release time:

2024-08-17 09:32

Source Event Xinhua Finance

Reporter Zhang Jian

The Egyptian government announced on the 15th the launch of the national low-carbon hydrogen strategy, which aims to increase the gross domestic product by nearly US $18 billion by 2040 and create more than 100000 jobs.

It is understood that the strategy includes expanding the production of hydrogen and its derivatives, increasing the domestic use of hydrogen in industry and transportation, and eventually exporting to international markets.

Source: pexels.com

In a statement, Egyptian Prime Minister Mahmoud Mudbouli noted that the strategy will help Egypt diversify clean and sustainable energy sources and reduce carbon emissions in line with its international commitments.

The official spokesman of the Egyptian cabinet, Mohamed El Khomosani (Mohamed Elhomosany), said that Egypt's unique geographical location and abundant solar and wind energy resources support the production of low-carbon hydrogen. He said the strategy was being implemented in collaboration with several international partners, notably the European Bank for Reconstruction and Development.

The National Green Hydrogen Commission, established in 2003 to oversee the implementation of the strategy and monitor progress annually, has launched a dedicated investment website to attract private sector participation.

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