The Egyptian Ministry of Petroleum and Mineral Resources and the Suez Canal Authority announced the signing of a memorandum of understanding to initiate the procedures for establishing an LNG liquefaction and bunkering station in Port Said.
Credit: Suez Canal Authority
The project, according to a post by the Canal Authority, is a central pillar of the Canal’s transition to a “green” channel, as it reinforces the IMO’s goal for the consumption of low-carbon footprint fuels. Additionally, it serves the Canal’s strategy for enhancing its competitiveness and leading position in international maritime routes.
Credit: Suez Canal Authority
“The project will contribute to supporting our efforts to become a fully green channel by 2030,” stated Osama Rabie, President and Managing Director of the Canal Authority, characteristically.
