Chancellor Scholz: Selling Germany Hydrogen a Big Opportunity for Egypt and The World
7/23/2022
(Reuters) — Germany and Egypt have agreed to cooperate on building out the hydrogen economy as part of Europe's efforts to diversify away from its current dependence on Russian gas, German Chancellor Olaf Scholz said after meeting with the Egyptian President.
"For the transformation of industry in countries like Germany, electricity and hydrogen will be crucial," Scholz said at a news conference with Abdel al-Sisi. "Much of that hydrogen will be imported," he added, describing Germany's need for gas imports as a "very big opportunity" for other countries.
"One thing we have had to learn from this crisis is that it is important to diversify," he added. "You shouldn't rely on one single partner but must have many good partners."
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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