Egypt: an agreement for decarbonation

In Egypt, the Gulf of Suez will benefit from an innovative memorandum of understanding for the industrial decarbonization of the region.

Share:

In Egypt, the Gulf of Suez will benefit from an innovative memorandum of understanding for the industrial decarbonization of the region.

Technical cooperation

In Egypt, Egyptian Natural Gas Holding Company (EGAS), Seasplit Technologies and General Electric (GE) sign a memorandum of understanding. The three partners plan to assess the technical and economic feasibility of developing 1.5GW of offshore wind power. In addition, they are also evaluating how Egyptian oil companies could participate in the project.

In Africa and the Middle East, the development of offshore wind energy would make it possible to supply offshore oil and gas installations. In addition, the excess power can also be fed into the grid. Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources, says:

“There is no doubt that this agreement will help address the challenge of climate change and is in line with the Ministry of Petroleum and Mineral Resources’ strategy to move towards clean energy and benefit from offshore wind power in the Gulf of Suez, and the advanced solutions of GE and Seasplit Technologies.”

A net zero target

The MOU provides that EGAS will facilitate Seasplit and GE’s interactions with government authorities. Seasplit Technologies will provide the technical, financial and legal resources necessary to evaluate, structure and develop the Gulf of Suez project. GE will allow Seasplit to conduct feasibility studies to meet the project development milestones.

The objective of this MOU is to transform the Gulf of Suez into a net zero industrial zone. In addition, it is also to meet the renewable energy objectives of the Ministry of Petroleum and Mineral Resources. In addition, the project is expected to create new location, supply chain and employment opportunities.

A Department of Energy report states that US actions on greenhouse gases would have a limited global impact, while highlighting a gap between perceptions and the economic realities of global warming.
Investments in renewable energy across the Middle East and North Africa are expected to reach USD59.9 bn by 2030, fuelled by national strategies, the rise of solar, green hydrogen, and new regional industrial projects.
Global electricity demand is projected to grow steadily through 2026, driven by industrial expansion, data centres, electric mobility and air conditioning, with increasing contributions from renewables, natural gas and nuclear power.
Kenya registers a historic record in electricity consumption, driven by industrial growth and a strong contribution from geothermal and hydropower plants operated by Kenya Electricity Generating Company PLC.
Final energy consumption in the European industrial sector dropped by 5% in 2023, reaching a level not seen in three decades, with renewables taking a growing role in certain key segments.
Réseau de transport d’électricité is planning a long-term modernisation of its infrastructure. A national public debate will begin on September 4 to address implementation methods, challenges and conditions.
The Spanish Parliament has rejected a package of reforms aimed at preventing another major power outage, plunging the national energy sector into uncertainty and revealing the fragility of the government's majority.
The U.S. government has supported Argentina’s request for a temporary suspension of an order to hand over its stake in YPF, a 16.1 billion USD judgment aimed at satisfying creditors.
The United States Environmental Protection Agency extends compliance deadlines for coal-fired power plant operators regarding groundwater monitoring and the closure of waste ponds.
Eskom aims to accelerate its energy transition through a new dedicated unit, despite a USD22.03bn debt and tariff uncertainties slowing investment.
Several major U.S. corporations announce investments totaling nearly USD 90 billion to strengthen energy infrastructure in Pennsylvania, aimed at powering data centers vital to the rapid growth of the artificial intelligence sector.
Nearly USD92bn will be invested by major American and international groups in new data centres and energy infrastructure, responding to the surge in electricity demand linked to the rise of artificial intelligence.
Nouakchott has endured lengthy power interruptions for several weeks, highlighting the financial and technical limits of the Mauritanian Electricity Company as Mauritania aims to widen access and green its mix by 2030.
Between 2015 and 2024, four multilateral climate funds committed nearly eight bn USD to clean energy, attracting private capital through concessional terms while Africa and Asia absorbed more than half of the volume.
The Global Energy Policies Hub shows that strategic reserves, gas obligations, cybersecurity and critical-mineral policies are expanding rapidly, lifting oil coverage to 98 % of world imports.
According to a report by Ember, the Chinese government’s appliance trade-in campaign could double residential air-conditioner efficiency gains in 2025 and trim up to USD943mn from household electricity spending this year.
Washington is examining sectoral taxes on polysilicon and drones, two supply chains dominated by China, after triggering Section 232 to measure industrial dependency risks.
The 2025-2034 development plan presented by Terna includes strengthening Sicily’s grid, new interconnections, and major projects to support the region’s growing renewable energy capacity.
Terna and NPC Ukrenergo have concluded a three-year partnership in Rome aimed at strengthening the integration of the Ukrainian grid into the pan-European system, with an in-depth exchange of technological and regulatory expertise.
GE Vernova has secured a major contract to modernise the Kühmoos substation in Germany, enhancing grid reliability and integration capacity for power flows between Germany, France and Switzerland.