$40M Investment to Transform Egypt’s Wasted Gas into Clean Energy
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📰 The quick summary: Canadian tech company Borna will invest $40 million in Egypt to recover flared natural gas and implement carbon capture, helping reduce emissions while strengthening the country’s energy security.
📈 One key stat: $40 million will be invested in Egypt’s energy sector to recover wasted gases like methane, propane and butane, significantly reducing environmental impact while boosting national energy supplies.
💬 One key quote: “BECCS is the way forward,” Greg Stangl, Phoenix E.
1️⃣ The big picture: Canadian energy technology company Borna has announced plans for a $40 million investment in Egypt focusing on flared gas recovery and carbon capture solutions. The project aims to capture methane, propane, and butane gases that are typically wasted through flaring during oil operations. These recovered resources will be redirected into Egypt’s national gas grid, improving energy efficiency while simultaneously implementing carbon capture and storage systems. This initiative will allow local companies to participate in Egypt’s newly launched voluntary carbon credit trading platform, supporting the country’s climate goals.
2️⃣ Why is this good news: The project delivers multiple environmental and economic benefits by decreasing Egypt’s dependence on imported energy while significantly reducing harmful emissions. Local industries gain access to technology that helps them meet international environmental standards, particularly important for accessing European markets under the EU’s Carbon Border Adjustment Mechanism. The investment creates skilled job opportunities for Egyptians in the clean energy sector. Additionally, by tapping into resources currently wasted through flaring, the project makes productive use of assets that otherwise contribute to climate change.
3️⃣ What’s next: Borna will move forward with facility construction, supported by Canadian government entities and financial institutions that are encouraging expansion into growth markets like Egypt. Local firms will soon gain access to the carbon capture systems, enabling their participation in Egypt’s carbon credit trading platform. Egypt’s streamlined licensing processes and tax exemptions under the private free zones system will help accelerate project implementation.
Read the full story here: Carbon Herald – Borna Plans $40M Investment In Egypt For Flared Gas Recovery And CO2 Capture
