Pre-Trading Thoughts

The Minister of Electricity and Renewable Energy confirmed that there are approximately 100,000 MW of renewable energy that will be directed to producing green hydrogen over the next 10 years. Egypt is in negotiations with three major global entities to export 3,000 MW of power to the European power grid through a submarine electrical line to Cyprus and Greece. The amount of carbon-intensive mazut fuel oil Egypt uses in power stations has reached five-year highs as it seeks to maximize the am...