{"id":611183,"date":"2023-12-03T00:00:00","date_gmt":"2023-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/this-evening-scatec-sczone-sign-usd-1-1-bn-green-methanol-agreement-at-cop28\/"},"modified":"2023-12-03T00:00:00","modified_gmt":"2023-12-03T00:00:00","slug":"this-evening-scatec-sczone-sign-usd-1-1-bn-green-methanol-agreement-at-cop28","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/this-evening-scatec-sczone-sign-usd-1-1-bn-green-methanol-agreement-at-cop28\/","title":{"rendered":"THIS EVENING: Scatec, SCZone sign USD 1.1 bn green methanol agreement at COP28"},"content":{"rendered":"

Good afternoon friends, and welcome to a fresh week. <\/strong>Our news cycle is going strong, with more to keep an eye on from the regional conflict and COP28. <\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

Scatec signs on to USD 1.1 bn green methanol supply agreement:<\/strong>Norwegian renewables developer Scatec could supply ships with green methanol under a USD 1.1 bn MoU signed with the Suez Canal Economic Zone, according to a statement<\/a>. The agreement includes producing 100k tons of green methanol per year by 2027, the statement says. Under the agreement, Scatec will develop 190 MW of electrolyzer capacity to produce the green methanol by relying on 317 MW of wind energy and 140 MW of solar energy. <\/p>\n

Scatec likes to get things done at COP:<\/strong> Scatec and the SCZone signed the agreement on the sidelines of COP28, which is currently underway in Dubai\u2019s Expo City. At last year\u2019s COP27, Scatec, the OCI \/ Adnoc joint venture Fertiglobe, Orascom Construction, and the Sovereign Fund of Egypt (SFE) began commissioning<\/a> the first phase of their 100 MW green hydrogen plant in Ain Sokhna. <\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

This afternoon brings us another mixed bag of headlines in the international press.<\/strong> Since the truce with Hamas ended on Friday, Israel has shifted its focus to aerial attacks on the South of Gaza, where the majority of the population has gathered, particularly concentrated on Khan Younis (previously a \u201csafer zone\u201d) and Rafah. It\u2019s expected that a ground invasion might follow. Those in the West Bank, where Hamas has no authority, have also been fleeing their homes in the midst of attacks by the IDF and Israeli settlers. (Wall Street Journal<\/a> | Washington Post<\/a> | Reuters<\/a>) <\/p>\n

ON THE BUSINESS SIDE, COP28 IS LEADING THE CONVERSATION-<\/strong> IMF Managing Director Kristalina Georgieva emphasized the need for carbon pricing at COP28<\/a>, says CNBC<\/a>. WHO Director General Tedros Adhanom Ghebreyesus brought attention to climate change\u2019s \u201cimmediate and present\u201d threats to health, reports the Associated Press<\/a>, and called for COP to host its first ever \u201cHealth Day.\u201d <\/p>\n

HAPPENING TODAY-<\/strong><\/p>\n

PSA- It\u2019s the last day for Egyptian expats to head to the polls to cast their presidential <\/strong>ballots <\/strong>\u2014 which opened on Friday \u2014 and choose between incumbent President Abdel Fattah El Sisi, Al Wafd Party\u2019s Abdel Sanad Yamama, the Egyptian Social Democratic Party\u2019s Farid Zahran, and the Republican People Party\u2019s Hazem Omar.<\/p>\n

** And it\u2019s exactly one week before the polls open here at home on 10-12 December<\/strong> with the first-round results due on 18 December and a runoff, if necessary, to take place in early January.<\/p>\n

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