The Egyptian Natural Gas Holding (EGAS) has signed a letter of intent with Shell Global, Pyramid Navigation, Infinity Solar and Eagle Oil & Gas to conduct a feasibility study on establishing a liquified natural gas (LNG) bunkering hub in Egypt, according to Egypt’s Ministry of Petroleum and Mineral Resources on Saturday (29 October).
Following the signing, Minister of Petroleum and Mineral Resources Tarek El Molla said Egypt has taken concrete steps to cooperate with international companies to reduce carbon emissions.
The partnership will provide new opportunities for EGAS to be a major supplier of LNG for ships in Egypt and in neighbouring countries, he said in the statement.
Egypt enjoys many advantages in the field of ship bunkering with liquefied natural gas as a low-carbon fuel, most notably the strategic location of the Suez Canal as a global navigation corridor suitable for the establishment of the bunkering project, and the availability of LNG in the country, the minister said.
Tahir Farouqi, head of Shell Global LNG company, said the cooperation deepens the long-term partnership with Egypt and reaffirms the commitment of Shell in supporting Egypt’s ambition as a regional centre for energy trading.
Photo credit: Ali Othman on Unsplash
Published: 1 November, 2022
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