In a significant leap towards sustainable energy development, Egypt has inked a preliminary agreement with Abu Dhabi-based company Ocior Energy for a $4 billion green hydrogen and ammonia project within the Suez Canal Economic Zone (SCZONE). The venture positions Egypt as a key player in suppling the European green hydrogen and derivatives market. Final contracts for the project are anticipated to be finalized in the coming months. The project’s initiation follows a series of recent investments in green hydrogen and ammonia production in the SCZONE, amounting to an impressive $32 billion – about a tenth of the all the money promised towards green hydrogen projects, although the total figure is rapidly rising. Egypt’s favorable geographical conditions play a pivotal role…