Egypt aims to increase GDP by $ 10-18 billion by 2025 from green hydrogen

The Egyptian Cabinet said today, Saturday, that Egypt aims to increase gross domestic product between $ 10 and $ 18 billion by 2025, as part of the national green hydrogen strategy that the country intends to announce at the conference. United Nations on climate COP27.

The Cabinet said in a statement that the strategy aims to acquire 8% of the hydrogen market globally.

He added: “Production cost is expected to drop to $ 1.7 / kg in 2050 compared to $ 2.7 / kg in 2025 … It will create more than 100,000 new jobs, as well as help reduce Egyptian imports of petroleum products, since in addition to reducing carbon emissions. ” According to Reuters.

Egypt, which will host this month’s climate conference in Sharm el-Sheikh, recently signed a series of MoUs for green hydrogen projects, a term that refers to the production of hydrogen using non-renewable energy sources. carbon emissions.

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