Egyptian Natural Gas Holding, Seasplit Technologies and GE signed an innovative memorandum of understanding for the industrial decarbonization of the Gulf of Suez. The initiative was announced on the sidelines of the United Nations Framework Convention on Climate Change’s 27th session of the Conference of the Parties COP27 in Sharm El Sheikh, Egypt. Under the scope of the MOU, the three organizations plan to evaluate the technical and economic feasibility of developing 1.5 gigawatts of offshore wind power in the Gulf of Suez and intend to explore how strategic companies in Egypt’s petroleum sector can participate in the project’s delivery. In a first across Africa and the Middle East, the electricity generated is expected to power the operations of offshore oil and gas facilities. Excess power may also be supplied to the grid. Under the terms of the MOU, EGAS will provide Seasplit and GE with assistance to interact with other government authorities and key stakeholders to enable completion of preliminary works. Seasplit Technologies is anticipated to provide the necessary technical, financial, and legal resources to evaluate, structure, and develop the project, while GE is expected to enable Seasplit to perform feasibility studies to meet the necessary milestones.