Egypt will begin capturing and storing carbon dioxide at the Meleiha field in cooperation with Italian oil and gas company Eni.
The $25 million investment from Eni will enable the capture and storage of 25,000 to 30,000 tonnes of carbon dioxide annually.
Excess carbon dioxide in the atmosphere is a major contributor to global warming, and limiting the effects of climate change require significant reduction in carbon emissions. Capturing and storing carbon dioxide at the source is integral to slow climate change.
Egypt’s Minister of Petroleum & Mineral Resources Tarek El Molla said in a statement that the first project focuses on the extraction of algae oil to be used in biofuel production, with an annual production capacity of 350,000 tonnes with an investment of 600 million dollars, which contributes to the reduction of 1.2 million tonnes of carbon dioxide per year.
The second is about the production of biodegradable plastics with a production capacity of 75,000 tonnes, with an investment of 600 million dollars, with the aim of reducing 45,000 tonnes of carbon dioxide per year. The third project is to convert plastic waste into oil to be used as a raw material in polyethylene production, with an annual production capacity of 30,000 tonnes and investments of 50 million dollars, and to reduce 63,000 tonnes of carbon dioxide annually.
