TODAY: Japan’s Mitsui is lining up blue ammonia imports from Ma’aden
Good morning, ladies and gents. It was a busy day in the region yesterday and we have updates from across the climate spectrum.
THE BIG CLIMATE STORY- Saudi mining company Ma’aden signed an agreement with Japanese industrial conglomerate Mitsui & Co to become the first commercial supplier of blue ammonia to Japan. We have more details on this story and more in the news well, below.
THE BIG CLIMATE STORY OUTSIDE THE REGION- The Biden administration’s approval of a controversial Alaska oil project is grabbing headlines. The US Interior Department formally greenlit a USD 8 bn oil drilling venture in Northwestern Alaska despite a prolonged eleventh-hour campaign by climate activists to block the project. Led by US oil giant ConocoPhillips, the massive Willow oil project has been moving through the administration’s approval process for months, sparking a wave of online activism and spurring activists to send in more than 1 mn letters to the White House in opposition of the project. The project would produce some 600 mn barrels of crude over its 30-year lifecycle — peaking at 180k bbl daily — and releasing some 9.2 tons of CO2 equivalent annually.
The story attracted widespread coverage in the international press: CNN | Reuters | New York Times | The Guardian | BBC | Bloomberg | AP News
HAPPENING TODAY- The UAE will host the Arab Aviation Summit from today until Thursday in Ras al Khaimah. The event will bring together global stakeholders to address sustainability in the aviation industry among other topics.
WATCH THIS SPACE #1- UK EV car makers are applying pressure for incentives: UK electric vehicle manufacturers are calling for significant government backing to be able to compete with the US and EU markets that have recently passed unprecedented green incentives, Bloomberg reports. “We need to step up to compete in this global race,” Society of Motor Manufacturers and Traders Mike CEO Hawes said yesterday, referring to the impact of the US’ Inflation Reduction Act which saw UK automakers line up to move their electric vehicle plants to the US in search for the most attractive subsidies.
WATCH THIS SPACE #2- Dubai receives pilot fleet of the new BMW iX5: Five BMW iX5 Hydrogen vehicles have arrived in the Middle East to demonstrate the potential of hydrogen vehicles as a zero-emissions means of transport for select motorists, according to a statement. BMW is sourcing the fuel cells for its car from Toyota, which debuted two models of its Mirai sedan boasting hydrogen fuel cell technology similar to BMW’s iX5 last January. The company’s global fleet totals less than 100 vehicles at the moment, with BMW noting that the current pilot phase will test the reliability of alternative drive systems for daily use.
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CLIMATE DIPLOMACY- Egypt, Germany work on pushing green hydrogen plans forward: Egypt’s Oil Minister Tarek El Molla met with a delegation of German companies headed by Parliamentary State Secretary for Economic Affairs and Climate Action Stefan Wenzel to discuss potential cooperation between the two countries on hydrogen and green ammonia, according to a statement released earlier this week. Ahead of COP27 last November, Egypt and Germany signed an MoU to cooperate on the production of green hydrogen. Egypt also signed an MoU with Germany’s DAI in December to begin conducting feasibility studies on new projects to set up facilities to produce green hydrogen and its derivatives.
COME TO OUR NEXT ENTERPRISE FORUM-
We are delighted to share with you that the Enterprise Exports & FDI Forum will be taking place on 15 May at the Four Seasons Hotel at Nile Plaza in Cairo.
DO YOU WANT TO ATTEND? The first wave of invites is going out soon. If you’re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please click here to request a spot at this exclusive event.
What’s the Enterprise Exports & FDI Forum? It is the latest in our series of must-attend, invitation-only gatherings for C-suite-level business leaders. The Enterprise Exports & FDI Forum will discuss the critical topics of exports and foreign direct investment (FDI) in Egypt.
We will be taking an in-depth look into some of the most vital industry topics, including:
- How to effectively break into new export markets
- How to leverage domestic trends in order to create export opportunities
- What foreign investors are looking for
- What the government's role should be
Why now? Exports and foreign direct investment (FDI) have never been more important to Egypt’s economy — or businesses — than in the wake of the float of the EGP. We think we have a once-in-a-lifetime chance to build an export-led economy that makes Egypt a magnet for FDI, and all the benefits that will come with it.
Think of the Enterprise Exports & FDI Forum as a hands-on lab for how to turn the devaluation of the EGP into something that will turbocharge your company and our economy.
WANT TO SHARE YOUR STORY ON STAGE? Drop a note to Patrick here and let’s talk.
WANT TO BECOME A COMMERCIAL PARTNER? Ping a note to Moustafa, our head of commercial, here.
CIRCLE YOUR CALENDAR-
Denmark will host the Copenhagen Climate Ministerial from Monday, 20 March to Tuesday, 21 March in Copenhagen. The event is the first political high-level gathering to follow-up on the COP27 summit’s conclusions and agreements. Denmark and co-hosts Egypt and the UAE will address the need to establish continuity between the last climate summit and next November’s COP28, and progress on how targets align with the Paris agreement.
Germany will host The Infrastructure Investor Global Summit from 20-24 March in Berlin. The four-day event will gather industry leaders from the global infrastructure sector to map out a course for the industry to upscale its ESG-focused operations and investments. You can register for the event here.
The Arabia CSR Awards is accepting applications until Friday, 30 June. The awardwinners will be announced during a ceremony on Wednesday, 4 October.
The first MENA Solar Conference is accepting applications from published researchers specialized in PV technology until Sunday, 30 April. The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers here.
Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.