EMEA News
Egypt Seeks to Develop Suez Canal LNG Bunker Supply
Egypt's authorities are seeking to set up the supply of LNG as a bunker fuel at the entrance to the Suez Canal.
The country's Ministry of Petroleum and Natural Resources and the Suez Canal Authority have signed a memorandum of understanding setting out plans to establish an LNG liquefaction and supply station at Suez, the canal authority said in a LinkedIn post on Thursday.
"The objectives of the project converge with the policies of the International Maritime Organization (IMO) to reduce carbon emissions from the shipping sector globally," the Suez Canal Authority said.
"The project serves the canal's strategy to enhance its competitive position and leadership in international maritime routes."
The station is expected to be established in the Al-Raswa area in Port Said.
LNG is growing in popularity as an alternative bunker fuel, with the ability to deliver immediate reductions in GHG emissions at a relatively low cost compared to other alternatives. The long-term viability of LNG-fuelled ships will depend upon the emergence of greener forms of LNG - bio- and synthetic LNG - at scale, and their availability at key hubs.
