The Egyptian units of Energean and Shell have signed a memorandum of understanding to work on a mutually beneficial decarbonisation solution. The MOU is designed to support the decarbonisation and energy transition of the Arab Republic of Egypt by contributing to global efforts against climate change.
Energean will draw on its experience in designing a carbon capture and storage (CCS) solution in a depleted hydrocarbon field that has operated for many years, mirroring the ongoing process in Prinos, Greece.
The proposed partnership addresses a major CCS feasibility challenge, which is the ability to connect significant carbon emitters to an appropriate geological structure. The study will focus on the decarbonisation of the Shell-operated Idku LNG terminal by capturing and storing carbon dioxide in a depleted reservoir in the Abu Qir offshore concession operated by Energean. Future stages of development will allow this facility to take emissions from other industrial emitters (eg fertilisers).
Several interconnected factors are placing Egypt in an important position in terms of carbon capture and storage (CCS). That is, the country has a clear understanding of depleted gas fields, adjacent to much newer production facilities. The country not only has extensive infrastructure but also skills and experience. In addition, there is demand from global markets and stakeholders for decarbonized molecular energy products.
“CCS in Egypt can only be developed in long-term partnerships with industries willing to ‘green’ their products. We are delighted to work with Shell as such a credible and committed partner,” said Nicolas Kacharov, CEO of ‘Energean International and Country. Manager Egypt
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