EMEA News
Maerk's C2X Signs Billion Dollar Green Fuel Framework Agreement with Egypt
Wednesday October 4, 2023
Danish shipping firm Maersk's green methanol vehicle, Maersk C2X, has signed a new framework agreement with Egypt worth up to $3 billion for the production of green fuel and its derivatives in the Suez Canal economic zone, Reuters reports.
The move follows the formation of C2X (between Maersk and its majority owner) in September to pursue large-scale green methanol projects in Egypt and in the southern Spanish port of Huelva as well as other locations.
Green methanol is derived from sustainable sources of energy. The alternative marine fuel is one of a number of such fuels being developed by the shipping and energy industries.
