Consortium Formed to Cut Emissions from Oil & Gas Industry in Egypt
February 23, 2022
Decarbonization is a major focus around the region, and is accelerating in Egypt, as it prepares to host COP 27 – the 2022 UN Climate Change Conference. The nation recently pledged to adopt a sustainable development model aimed at bringing the proportion of government green projects to 50% by 2025 and 100% by 2030.
A new consortium that includes GE will support this goal by working to lower CO2 and methane emissions and identify energy savings opportunities from oil and gas facilities wholly or partially owned by the government.
GE Digital and Baker Hughes will provide the technology; Bechtel, Enppi and Petrojet will lead the execution of the needed works; and HSBC and the National Bank of Egypt will provide financing advisory.
The coalition will begin with an assessment of onshore oil and gas facilities. The coalition will identify a shortlist of facilities to present to the Ministry of Petroleum and Mineral Resources. With ministry approval, implementation will begin on the first facility. Progress on the first project will be presented at COP 27.
“Collaborative initiatives like this one that seek to lower emissions across critical industries will be key to realizing Egypt’s vision for decarbonization,” said Scott Reese, CEO of GE Digital. “GE will bring software solutions to this coalition of partners, helping to make meaningful progress on the wider energy transition.”
GE Digital has extensive experience helping oil and gas customers reduce operating costs, improve efficiency, reduce downtime, boost productivity, and support the energy transition.
The consortium’s work to help decarbonize Egypt’s oil and gas sector will contribute to Egypt’s existing efforts to address climate change. Already the country has the largest renewable energy installed capacity in the Arab world, while more than 6.34 gigawatts of proposed projects are under study by the New and Renewable Energy Authority. Additionally, the country plans to join the regional embrace of green hydrogen with an announcement last year that it would develop a 100-megawatt green hydrogen plant on the Red Sea.
Read more stories here about how GE Digital is supporting the energy transition and helping industrial companies enhance operations in the Middle East, North Africa and Turkey.