The Ministry of Petroleum and Mineral Resources (MoPMR) has signed a Memorandum of Understanding with the Suez Canal Authority (SCA) to establish infrastructure for an LNG liquefaction and bunkering station in Raswa, Port Said, advancing Egypt’s ambitions to transform the Suez Canal into a green shipping corridor by 2030.
The agreement aims to secure gas supplies for the natural-gas liquefaction and storage terminal while facilitating cooperation between petroleum-sector companies and the SCA to complete necessary technical and administrative procedures for construction of the new facility.
The MoPMR, represented by the Egyptian Natural Gas Holding Company (EGAS), gas companies, and the SCA, have conducted recent consultative meetings on the project, which underwent in-depth study with participation from institutions in the Republic of Korea. This collaboration occurred in coordination with the Ministry of Planning and Economic Development and International Cooperation to provide necessary implementation support.
The SCA has signed a separate MoU with Korean partners detailing project scope, execution conditions, economic costs, and implementation procedures, which have now reached final stages.
During the signing ceremony, Minister of Petroleum and Mineral Resources Karim Badawi emphasized the project’s significance, noting it enables natural gas use as clean marine fuel, reduces carbon emissions, and contributes to transforming the Suez Canal into a green shipping corridor. The minister affirmed the project represents a nucleus for attracting new investments to carry out similar bunkering projects for ships using liquefied natural gas.
SCA Chairman Osama Rabie stated the station will advance the strategy toward a fully green Canal by 2030 and keep pace with global developments in the maritime-transport industry, which is rapidly moving toward clean energy and green policies aligned with International Maritime Organization (IMO) recommendations to reduce carbon emissions from maritime shipping.
Rabie added that the station is intended to serve the Authority’s fleet of LNG-powered tugboats and ferries as part of an integrated strategy to upgrade navigational and logistical services and maintain the Canal’s leading global position in maritime transport.
Source: egyptoil-gas.com