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Italy’s Eni, Egypt’s EGAS collaborate in low-emission technology domain
Italy’s Eni signed a memorandum of understanding with Egypt’s EGAS to join hands in the low-emission technology domain.
The two companies will conduct a study on means cutting carbon emissions in the oil and natural gas domains.
Eni is the largest hydrocarbon producer with approximately 350,000 barrels of oil equivalent per day.
The inking of the memo on Monday followed a meeting between President Abdel Fattah El Sisi and Eni CEO Claudio Descalzi on future plans of energy transition in Egypt.
Egytian Minister of Petroleum and Mineral Resources Tarek El Molla and Descalzi witnessed the signing of the deal, the Ministry said in a statement.
The deal was signed by Magdy Galal, President of EGAS, and Guido Brusco, Head of Natural Resources Operations at Eni.
The two companies will study and identify available opportunities for reducing greenhouse gas emissions in oil and gas sector projects in Egypt and prepare a master plan for the economic utilization of the gases resulting from these operations.
Therefore, EGAS and Eni will take important steps to reduce the burning of flare gases and emissions to the lowest technical level, evaluate and implement several initiatives to reduce greenhouse gases, including the construction of photovoltaic electricity units, and evaluate carbon capture, storage and use initiatives.
This falls within the framework of Egypt’s commitment to global initiatives aimed at preserving the environment, reducing emissions and confronting the effects of climate change. It is also a continuation of efforts and initiatives that were announced during the 27th United Nations Climate Change Conference (COP27).
The deal also builds on the memorandum of understanding that was signed in July 2021 between EGAS, the Electricity Holding Company and Eni, with the aim of cooperation in identifying and evaluating joint opportunities to support carbon removal in the field of energy transition. This includes collecting, capturing, storing and using carbon, as Eni possesses advanced expertise and technologies in the field of reducing emissions and capturing and storing carbon and benefiting from it.
Eni confirmed its commitment to serious cooperation and partnership with EGAS in supporting the reduction of all types of harmful emissions, while making investments in the natural gas industry and energy efficiency, which will allow the use of flare gases in hydrocarbon production processes.
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