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Significance Deals worth EUR40bn (USD44bn) covering renewable energy and green hydrogen were signed at June's EU-Egypt investment conference. They promise to help Cairo decarbonise local industries and insulate them from shifting importer demands, while also conserving increasingly scarce natural gas for alternative uses. Impacts As part of its policy to support allies via investments, Saudi Arabia could become a major investor in Egyptian green hydrogen. International oil and gas producers already in Egypt could invest in green hydrogen to decarbonise their global portfolios. Green hydrogen could be deployed chiefly to decarbonise Egypt's domestic fertiliser, steel, refining and petrochemicals sectors.
A Wed, study studied this question.