Egypt launches national low-carbon hydrogen strategy

CAIRO, Aug. 15 (Xinhua) -- Egypt unveiled a national low-carbon hydrogen strategy on Thursday, aiming to bolster its green economy and meet climate change goals.

Egyptian Prime Minister Mostafa Madbouly said the strategy aligned with the government's "Egypt Vision 2030" and would help diversify energy sources, reduce carbon emissions, and attract foreign investment.

Developed with partners including the European Bank for Reconstruction and Development, the plan targets boosting hydrogen production and use domestically before expanding exports. It aims to increase the gross domestic product by nearly 18 billion U.S. dollars and create 100,000 jobs by 2040 while enhancing energy security.

Egypt seeks to become a global green hydrogen hub, with the Suez Canal Economic Zone already securing a 397 million Euros contract to export green fuel to Europe.