A coalition of energy transition leaders – Bechtel, Enppi, Petrojet, GE, Baker Hughes, HSBC, and the National Bank of Egypt – signed a Memorandum of Understanding under the auspices of Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, this week in Cairo.
The coalition will provide execution, technology, and financing expertise for a new initiative to support decarbonization of select downstream facilities in Egypt, aligning plans with the country’s leadership of the COP27, UN Climate Change Conference 2022.
The coalition technical partner organizations have the commitment and track record, as well as the technical expertise and data to be instrumental in this important effort.
“The coalition we formed will support Egypt’s leadership in creating access and opportunity for the people of Africa on the path to Net Zero ahead of COP 27,” said Paul Marsden, president of Bechtel’s Energy business unit. “We bring world-class expertise in execution, technology, and financing necessary to enable Egypt reach their decarbonization goals. Our Bechtel team is looking forward to continuing our partnership with the people of Egypt.”
The work of the coalition will begin immediately with an assessment of onshore oil and gas facilities fully or partially owned by the Government of Egypt to target CO2 /methane emissions reduction and energy savings.