{"id":555524,"date":"2021-11-17T04:00:31","date_gmt":"2021-11-17T04:00:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/carbon-capture-announcements-lined-up-for-cop27\/"},"modified":"2021-11-17T04:00:31","modified_gmt":"2021-11-17T04:00:31","slug":"carbon-capture-announcements-lined-up-for-cop27","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/carbon-capture-announcements-lined-up-for-cop27\/","title":{"rendered":"Carbon capture announcements lined up for COP27"},"content":{"rendered":"

<\/a> Carbon capture could make its Egyptian debut at COP27:<\/strong> Joint initiatives between the Oil Ministry and Italian energy firm Eni on carbon capture, utilization and storage (CCUS) are set to be announced at the COP27 global climate summit in Sharm El Sheikh next year, according to a ministry statement<\/a>. Oil Minister Tarek El Molla met with Eni CEO Claudio Descalzi to discuss the carbon capture plans on the sidelines of the ADIPEC oil conference in Abu Dhabi this week, the statement read.<\/p>\n

Eni is building a carbon capture portfolio:<\/strong> The initiative may look a lot like Eni\u2019s HyNet North West<\/a> project. The British project, which is the first of its kind in the UK, could capture and store 10 mn tons of industrial CO2 annually by 2030. Eni is set to provide support on technical and economic feasibility studies in the next step for the Egypt-based scheme. The company is also looking to partner with the government on projects to reduce methane emissions, according to the statement.<\/p>\n

The project could be the first carbon-capture initiative in Egypt.<\/strong> We\u2019re not aware of CCUS technology having landed in Egypt yet \u2014 hit us on editorial@enterprise.press if you think we\u2019re wrong. One reason for that is that carbon capture is very expensive relative to other decarbonization strategies, like renewable energy development, as we\u2019ve noted before<\/a>. The talks with Eni follow an MoU signed in September<\/a> between EGAS, the Egyptian Petrochemicals Holding Company and Japan\u2019s Toyota Tshusho on joint blue hydrogen projects using Japanese carbon capture technology.<\/p>\n

Carbon capture could be a big theme (for energy-producing countries) at COP27: <\/strong>\u201cThe most important action or activity that everybody should work on diligently is CCUS. It\u2019s very important to the oil and gas industry, very important also for [combating] climate change,\u201d El Molla told CNBC<\/a> in an interview at the oil conference. He said that Egypt would be launching several climate-related initiatives at COP27, adding that hosting the summit offers a chance to press for funding and investment to help countries achieve net-zero ambitions.<\/p>\n

Let\u2019s not lose sight of the big pollution picture:<\/strong> Oil and gas companies have been accused of using carbon capture as a fig leaf<\/a> by environmental activists, who argue that investment would be better spent on increasing the use of renewable energies. It\u2019s true that as long as we\u2019re still extracting and burning fossil fuels, we\u2019re still contributing to climate change. That said, amid the ongoing energy crisis that has seen oil and gas prices skyrocket globally, some \u2014 including big energy firms and oil-exporting countries \u2014 argue that it will take time to eliminate dirty energy completely. If oil and gas are sticking around for decades<\/a> to come, CCUS tech can at least mitigate some of their negative impact.<\/p>\n

ALSO AT COP27- All cars and buses in Sharm El Sheikh and Hurghada will either be converted to run on natural gas or be swapped out for EVs<\/strong> by the time world leaders gather in Egypt next year, according to a cabinet statement<\/a> out yesterday. The statement also said that there will be 1k natural gas filling stations in operation nationwide<\/strong> by the end of next March.<\/p>\n","protected":false},"excerpt":{"rendered":"

Carbon capture could make its Egyptian debut at COP27: Joint initiatives between the Oil Ministry and Italian energy firm Eni on carbon capture, utilization and storage (CCUS) are set to be announced at the COP27 global climate summit in Sharm El Sheikh next year, according to a ministry statement. Oil Minister Tarek El Molla met […]<\/p>\n","protected":false},"author":1,"featured_media":555525,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[2769,93,72,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-carbon-capture","tag-energy","tag-enterpriseam","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"4ed7b3c1-2514-4f68-9b61-11486f0e348a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/490.jpg","photo_position":"above","related_issue":[555516],"teaser":"","voice_url":""},"yoast_head":"\nCarbon capture announcements lined up for COP27 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/carbon-capture-announcements-lined-up-for-cop27\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carbon capture announcements lined up for COP27\" \/>\n<meta property=\"og:description\" content=\"Carbon capture could make its Egyptian debut at COP27: Joint initiatives between the Oil Ministry and Italian energy firm Eni on carbon capture, utilization and storage (CCUS) are set to be announced at the COP27 global climate summit in Sharm El Sheikh next year, according to a ministry statement. 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The pilot project \u2014 which marks Egypt\u2019s first carbon capture initiative \u2014 is being implemented at a cost of USD 25 mn\u2026","rel":"","context":"In "Green economy"","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542782,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egp-30-bn-to-be-pumped-into-state-owned-oil-companies-next-fiscal-year\/","url_meta":{"origin":555524,"position":2},"title":"EGP 30 bn to be pumped into \u200b\u200bstate-owned oil companies next fiscal year","author":"enterpriseam admin","date":"17 January 2022","format":false,"excerpt":"EGP 30 bn has been earmarked to develop state-owned oil companies in the FY2022-2023 budget, Oil Minister Tarek El Molla said, according to a ministry statement, adding that the figure is the highest ever allocated. To our knowledge, the ministry has not disclosed total spending on state-owned oil companies in\u2026","rel":"","context":"In "BUDGET WATCH"","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/188.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554860,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/tonight-egx-trading-fees-are-getting-slashed-by-20-cabinet-members-are-talking-up-egypts-cop27-agenda-plus-charles-and-camilla-land-tomorrow\/","url_meta":{"origin":555524,"position":3},"title":"TONIGHT: EGX trading fees are getting slashed by 20% + Cabinet members are talking up Egypt\u2019s COP27 agenda. Plus: Charles and Camilla land tomorrow","author":"enterpriseam admin","date":"17 November 2021","format":false,"excerpt":"An uncharacteristically slow November news day, ladies and gentlemen, with both the local and foreign press appearing to take a chill pill. That said, the meeting of our financial regulators is casting a long shadow, especially in light of the FRA\u2019s statement today.THE BIG STORY TODAY- EGX trading fees are\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554027,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/","url_meta":{"origin":555524,"position":4},"title":"Arco inks EGP 720 mn financial leasing agreement","author":"enterpriseam admin","date":"16 December 2021","format":false,"excerpt":"Real estate development firm Arco is borrowing EGP 720 mn via a financial leasing agreement with a syndicate of Gulf and local lenders, lead arranger ADIFinance \u2014 Abu Dhabi Islamic Bank\u2019s leasing unit \u2014 said in a statement (pdf). The transaction also features participation from Arabia Investments Holdings\u2019 UE Finance\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554458,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/08\/innovative-financing-key-to-unlocking-cop26-goals-says-al-mashat\/","url_meta":{"origin":555524,"position":5},"title":"Innovative financing key to unlocking COP26 goals, says Al Mashat","author":"enterpriseam admin","date":"8 December 2021","format":false,"excerpt":"Al Mashat puts green finance front and center ahead of COP27 climate summit: Innovative finance tools are key to ensuring that COP26 commitments are actionable at next year\u2019s COP27 in Sharm El Sheikh, International Cooperation Minister Rania Al Mashat told Reuters on Thursday. With officials already working the international media\u2026","rel":"","context":"In "ON THE HORIZON"","block_context":{"text":"ON THE HORIZON","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-the-horizon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/611.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555524"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555524\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555525"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555524"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555524"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}