bp has joined forces with Masdar, Hassan Allam Utilities, and Infinity Power to embark on a Joint Development Agreement (JDA) aimed at exploring a multi-phase green hydrogen (gH2) project in Egypt. Under this agreement, bp will take the lead as the main developer and operator on behalf of the consortium. The partnership consolidates the various gH2 initiatives in Egypt, with a focus on potentially creating a large-scale project that spans multiple phases, including the development of gH2 and its derivatives for export markets.

The consortium, newly formed, has also signed a Framework Agreement (FWA) with the Egyptian government. This agreement sets the stage for conducting comprehensive studies and assessments to evaluate both the technical feasibility and commercial viability of the project. The signing ceremony, which took place during the Egypt-EU Investment Conference, involved key figures including bp's Regional President for the Middle East and North Africa, Nader Zaki, and representatives from Masdar, Hassan Allam Utilities, and Infinity Power, witnessed by Egypt's Prime Minister, Dr. Moustafa Madbouly, and other government officials.

bp emphasizes its long-standing commitment to Egypt, marking 60 years of partnership with the country. Over these decades, bp has played a crucial role in meeting Egypt's growing energy demands and supporting its sustainable energy ambitions. The collaboration with its consortium partners, each bringing diverse energy project experiences, is seen as a significant opportunity for regional cooperation and accessing global markets. This aligns closely with Egypt's strategic energy transition plans, where hydrogen is increasingly recognized as a pivotal component in the future global energy landscape.

Looking ahead, bp is eager to leverage its extensive experience and capabilities alongside its partners to unlock hydrogen's full potential within Egypt's energy framework. The company's substantial investments in Egypt, totaling over $35 billion, underscore its commitment to the country's energy sector. Currently, bp operates major gas developments in Egypt, including the West Nile Delta gas fields in the Mediterranean Sea, contributing significantly to the nation's gas production.

Masdar, renowned for its global leadership in renewable energy, continues to drive innovation in clean energy technologies worldwide. Established in 2006, Masdar has deployed projects across more than 40 countries, boasting a combined capacity of over 20 gigawatts (GW). Its initiatives span solar, wind, geothermal, battery storage, and green hydrogen technologies, aligning with global efforts to achieve net-zero emissions and promote sustainable energy solutions. Masdar is rapidly expanding as a renewable energy company and is leading in green hydrogen, positioning the UAE at the forefront of the energy transition.