Egypt is preparing new investment incentive packages designed to boost its share of the global green hydrogen market to 8%, with an expected annual production capacity of 10 million tons in the coming decades, Minister of Petroleum and Mineral Resources Karim Badawi announced during the opening ministerial session of the 4th Oman Green Hydrogen Summit.
Badawi underscored Egypt’s strategic geographic position in the Middle East, acting as a natural gateway to Africa and a key link to Europe, supported by existing energy interconnection projects with Cyprus and Greece. He also emphasized the pivotal role of the Suez Canal as a major hub within global hydrogen supply chains.
He noted that the Suez Canal Economic Zone (SCZONE) further strengthens this position with advanced infrastructure that supports renewable energy projects, green industries, and facilities capable of supplying ships with green fuels.
Badawi referenced the green ammonia production 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 will utilize 480 megawatts of solar and wind energy to produce 150,000 tons per year of green ammonia starting in 2027.
He also highlighted the sector’s role in maximizing the use of critical and rare minerals essential for renewable energy projects. This is crucial for the green hydrogen industry and supports Egypt’s goal of raising the share of renewable energy in total power generation to 42% by 2030.
Badawi reaffirmed Egypt’s readiness to collaborate with Oman, acknowledging Oman’s advances in developing its hydrogen industry. He 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 enhance cooperation across the oil, gas, and mining sectors.
The two ministers discussed expanding the presence of Egyptian petroleum companies in Oman, including participation in infrastructure projects and household natural gas delivery. They also addressed expertise exchange and potential training programs in natural gas and petrochemicals between the Egyptian Natural Gas Holding Company (EGAS) and Oman Oil Company (OQ).
Badawi highlighted promising mining investment opportunities under the Memorandum of Understanding (MoU) signed earlier this year and emphasized the current growth trajectory of Egypt’s mining sector. He concluded by inviting Al Aufi to participate in the Egypt Energy Show (EGYPES) in 2026.
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