Egypt signed on Sunday, 14th May, a joint development agreement with Norway’s Scatec to establish the country’s first green methanol production project in Damietta Port.
In particular, according to the Ministry of Petroleum and Mineral Resources, this is the first of its kind in Egypt and the Middle East, the green methanol project is expected to place Egypt on the global map of countries producing this green fuel for ships.
The project is to be located in the port of Damietta and it aims to produce 40,000 tons of green methanol per year, which could be increased to 200,000 tons per year in the framework of encouraging the transition to green production.
It will include the construction of renewable energy stations with capacities of no less than 40 megawatts for solar energy and 120 megawatts for wind energy, in addition to a green hydrogen analyzer with a capacity of 60 megawatts.
As part of the project, Egypt’s first station for supplying ships with green biofuel will be established.
This agreement will contribute to placing Egypt at the forefront of green chemical product manufacturing and exporting countries, making it a destination and hub for supplying green fuel to global shipping lines.
…Chairman of Scatec, Terje Pilskog, noted.
