Egypt has signed an initial agreement worth $5 billion with the Norwegian renewable energy company Scatec to produce green ammonia from green hydrogen. With production expected to start in 2025, the project will be implemented in two phases, the state’s cabinet reported. The implementation of the project coincides with Egypt"s hosting of the 27th session of the Conference of the Parties, known as COP27, to the United Nations Framework Convention on Climate Change later this year. In December 2021, the General Authority For Suez Canal Economic Zone and Scatec signed a memorandum of understanding to study the establishment of a new facility to manufacture green ammonia with a capacity of one million tons annually.