A green fuel bunkering terminal could materialise in the Eyptian port of East Port Said under an memorandum of understanding signed by the Suez Canal Economic Zone and Scatec.
The aim of the agreement is to develop production capacity of up to 100,000 metric tonnes of green methanol a year.
East Port Said area is north of the Suez Canal and integrated with the ports of East and West Port Said, putting it close to ship waiting areas, according to local news provider Daily News Egypt.
In addition to bunkering, the fuel could be used in other areas.
Shipping, along with other industrial sectors such as chemicals, is seen to be a hard-to-abate sector in terms of decarbonisation. Green methanol, which is produced from renewable sources of energy, is one of a number of low-carbon fuels being considered by shipping firms.