DNV, an independent energy expert and assurance provider, has signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC) to support their efforts towards setting science-based targets for their net-zero goals. EGPC is establishing these targets in line with the 1.5°C pathway of the Paris Climate Agreement, within the framework of the “Egypt Vision 2030” national plan to achieve the country’s Sustainable Development Goals (SDGs).
DNV will provide technical advisory support to EGPC to establish their strategy and execute their plan, covering all dimensions of Egypt’s SDGs. The two parties will identify economic, social, and environmental risks, opportunities, and impacts of EGPC’s activities for all relevant stakeholders, work on enhancing EGPC’s reporting system and build awareness on sustainable development reporting.
Additionally, DNV will support EGPC in delivering studies related to net-zero emission and carbon capture, utilization, and storage projects, as well as delivering training programs for EGPC sustainability committee, management, and affiliated companies.
Santiago Blanco, Executive Vice-president and Regional Director for Southern Europe, Middle East, and Latin America, Energy Systems at DNV, expressed that their extensive experience and expertise in the energy transition will help EGPC achieve their goals, and, in turn, feed into Egypt’s decarbonization strategy. The signing ceremony in Cairo was witnessed by HE Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, and HE Hilde Klemetsdal, Norway’s Ambassador to Egypt and Libya.
