Minister of Petroleum: Egypt is distinguished by the ingredients for supplying ships with LNG as a low-carbon fuel

Within the framework of the Ministry of Petroleum and Mineral Resources’ strategy to expand the use of clean, low-carbon fuels, the Egyptian Natural Gas Holding Company (EGAS) signed a letter of intent with Shell International, Pyramid Shipping, Affinity and Eagle Gas, with the aim of studying cooperation in the LNG ship refueling project in Egypt. Establishing a joint company to carry out a feasibility study for the project and identify the most appropriate means for its implementation.

Commenting on this signing, the Minister of Petroleum and Mineral Resources, Tarek El Molla, affirmed that the petroleum sector has taken concrete steps to cooperate with international companies to reduce carbon emissions. His quest to benefit from Egypt’s position in enhancing its role as a regional center for energy trading and trading, makes many contributions, especially with regard to maximizing the use of clean fuels, noting that the Egyptian state supports these trends and attaches great importance to them.

He explained that Egypt is characterized by many elements in the field of refueling ships with LNG as a low-carbon fuel, most notably the strategic location and the presence of the Suez Canal as a global shipping lane suitable for the establishment of the ship supply project, and the availability of LNG in Egypt. This partnership provides new opportunities for the Egyptian Natural Gas Holding Company. EGAS) to be a major supplier of liquefied natural gas for ships transiting Egypt and neighboring countries.

For his part, Taher Farooqi, President of Shell Global LNG, said that this cooperation deepens the existing long-term partnership with Egypt and confirms Shell’s strong commitment to support Egypt’s ambition as a regional center for energy trading and trade.

Egypt plays an important role in Shell’s plan to increase its ship supply structure with liquefied natural gas compared to what is currently available in international shipping lanes by three times by the end of the current decade.

The representative of Eagle Gas said that it and its shareholders have been working in the maritime transport sector in Egypt for nearly 50 years and have extensive experience in managing large marine projects in Egypt, and that its strong presence in the Egyptian market and its long experience support the successful steps of establishing a clean fuel ship supply center.

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