On the sidelines of the participation of the General Authority of the Suez Canal Economic Zone (SCZONE) in the Climate Summit COP28, chairman of SCZONE Waleid Gamal El-Dien, head of the Egyptian Minister of Petroleum’s Technical Office Eng. Alaa Hagar and CEO of Scatec ASA Terje Pilskog signed an MoU aimed at issuing a license to practice the activity of ships’ bunkering with green fuel for Scatec in Egypt’s East Port Said.
The investment cost is about US$1.1 billion (including investments in clean energy generation), and production capacity will reach 100,000 tons/year of green methanol by 2027, while the power of the electrolyzer is 190 MW based on 317 MW of wind power and 140 MW of solar power.
“The signing of a new MoU with Scatec represents an extension of the partnership that began with the company’s first project in SCZONE, which was inaugurated by President Abdel Fattah El-Sisi on the sidelines of COP27 in November 2022, and recently succeeded in exporting the world’s first shipment of green ammonia,” stated Waleid Gamal El-Dien.
Waleid Gamal El-Dien proceeded his meetings at SCZONE’s pavilion in the Green Zone with companies wishing to identify the available investment opportunities, especially in the field of energy, where he met with José Luis Jimeno, chairman of Vestas for the Mediterranean and Africa.
“East Port Said is the destination of the green bunkering project due to its location northern Suez Canal, and its integration with the ports of East Port Said and West Port Said, and therefore it is located near the ship’s waiting areas. We emphasise that green bunkering is not a main target in itself, but an imperative global requirement, especially since shipping is responsible for 10% of the world’s carbon emissions, so the use of green fuels in maritime transport will significantly affect the reduction of carbon emissions,” said SCZONE chairman.
