The Egyptian Natural Gas Holding Company (EGAS), C-Split Technologies and General Electric (GE) signed a Memorandum of Understanding on Saturday to remove industrial carbon from the Gulf of Suez, at COP27.
The three partners plan to assess the technical and economic feasibility of developing 1.5 gigawatts of offshore wind energy in the Gulf of Suez and intend to discuss the participation of Egyptian petroleum sector companies in the project implementation.
The unprecedented project in Africa and the Middle East is expected that the electricity generated will operate the offshore oil and gas facilities, and it can also supply the grid with surplus energy, according to an official statement.
This ambitious step paves the way for utilising these resources to transform the Gulf of Suez into an industrial zone with net zero carbon emissions, in line with the objectives of the Ministry of Petroleum and Mineral Resources.
The statement added that the project is expected to create promising opportunities in localization, supply chains, and important job opportunities.
Hussein Mosharafa, CEO of C-Split Technologies said, “Our mission is to develop projects that can support social and economic development efforts.
GE’s CEO across EMEA, Joseph Anis congratulates Egypt for demonstrating clear leadership in developing and implementing concrete and realistic solutions to drive the transformation of the energy sector.
“GE has supported infrastructure development across Egypt for more than 45 years, and through this project, we are honored to continue building on this success to contribute to the country’s long-term sustainability goal…” Anis added.
The agreement was signed by Magdy Galal, CEO of EGAS, Hussein Mosharafa, CEO of C-Split Technologies, and Joseph Anis, CEO of GE.
