Egypt lands new green methanol investment

Norway’s Scatec lines up second project, but wider sector has lost some momentum since Cop27 as industry awaits government’s hydrogen strategy

Cairo’s aspirations to become a leading international player in the green hydrogen industry received twin fillips in mid-May. On the investment side, Norwegian clean energy company Scatec announced plans for its second hydrogen derivatives plant, this one producing methanol, while in the regulatory arena the cabinet approved a draft law enshrining tax incentives for such projects. However, a comprehensive strategy for the sector remains pending despite repeated pledges of its imminent publication, worsening a sense of drift in the hydrogen push. Oslo-based Scatec, a longstanding investor in Egypt’s renewables buildout, signed a memorandum of understanding (MoU) back in October 2021 with fert