Will the Middle East and North Africa become the world's largest supplier of green hydrogen?
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• $100 billion in climate finance from the European Union
• Green hydrogen is an alternative to energy and creates job opportunities
• Egypt has everything needed to produce green hydrogen
• Partnership between Egypt and the European Union to produce green hydrogen
• President Abdel Fattah El-Sisi spoke about the importance of green hydrogen, during his speech at the “Future of Energy” session within the activities of the COP27 climate summit in Sharm El-Sheikh.
Al-Sisi drew attention to the fact that countries “face technical challenges related to standards and requirements for hydrogen production and identifying its sources, which must be flexible, while maintaining the principles of transparency.”
President Abdel-Fattah El-Sisi said that developing countries are facing the challenge resulting from some countries’ tendency to support local green hydrogen producers, in a way that reduces the cost of their production, which causes disruption in the global hydrogen market and contributes to weakening the competitiveness of green hydrogen produced in developing countries. compared to its counterparts in developed countries.
Green hydrogen is an essential element for the future of the industry
Following El-Sisi’s statements, German Chancellor Olaf Scholz thanked Egypt and President El-Sisi for hosting the COP27 climate summit, stressing that green hydrogen is an essential element for the future of industry, and one of the most important modern technologies related to climate change.
The German chancellor added that green hydrogen is a key driver for creating more jobs and well-being, expecting that green hydrogen will be widely used as an alternative energy around the world by 2050.
Germany produces 20 tons of green hydrogen
He pointed out that Germany aspires to produce 20 million tons of green hydrogen, noting that green hydrogen is not a fictional technology for the future, but one of the basic technologies for the transition to clean energy.
The Middle East and North Africa have great potential to become the largest green hydrogen supplier
He called for building a system to produce green hydrogen and circulating it around the world to find sustainable energy solutions, noting in this regard that the Middle East and North Africa have great capabilities to become the largest suppliers of green hydrogen around the world due to their proximity to global markets.
Partnership between Egypt and the European Union
For her part, European Commission President Ursula von der Leyen said that the European Union will launch a partnership with Egypt in the field of green hydrogen.
She pointed out that Egypt has everything needed to produce green hydrogen, as it has the sun and wind in addition to providing energy supplies to the European Union.
On the sidelines of the Climate Summit (COP27) hosted by the Egyptian city of Sharm El-Sheikh, she explained that this partnership is based on investment by the European Union, through a global investment program called the global gateway.
300 Billion euros invesstment
European Commission President Ursula von der Leyen said, "We are making huge investments through the Global Gateway programmer, which is an external investment project worth 300 billion euros, much of which will be in the transition to green energy, which will make it a huge opportunity for the global south because we will get rid of dependence on Russian fossil fuels once and for all.
She also confirmed that the European Union is proceeding with its plan to declare Europe the first carbon-neutral continent by 2050. Ursula von der Leyen said that the authorities have put in place the necessary legislation to implement the plan and by 2030 emissions will be reduced by 55 percent.
$100 billion in climate finance
The Chairperson of the Commission called on all countries to bear their fair share of climate finance, noting that "the European Union is the largest contributor to climate finance, which amounts to $100 billion, having contributed 23 billion euros last year, and will contribute more than 23 billion euros this year." .
