Norwegian firm to supply green methanol for shipping in Egypt

The Suez Canal Economic Zone (SCZONE) has signed a memorandum of understanding (MoU) with Norwegian renewable energy firm Scatec to explore green methanol bunkering at East Port Said located at the northern end of the Suez Canal, Egypt.

PHOTO: Large container ship passing the Suez Canal, Egypt. Getty Images

The MoU, signed on the sidelines of the UN Climate Change Conference (COP28) in Dubai, aims to explore the possibility of issuing a green methanol bunkering license to Scatec, the SCZONE said.

The duo also seek to develop a green methanol production facility in East Port Said to produce 100,000 mt/year of green methanol by 2027. It will house a 190 megawatts (MW) electrolyser powered by renewable electricity generated from wind and solar energy to generate green hydrogen – a key component for the production of green methanol.

The total investments in these projects are expected to go up to $1.1 billion.

By Manjula Nair

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