It also includes research into establishing a joint company that would be dedicated to carrying out the feasibility study
Egypt has signed a letter of intent with four international companies to carry out a feasibility study on establishing a liquefied national gas-bunkering hub in Egypt.
In an official statement, Minister of Petroleum and Mineral Resources Tarek El Molla said Egypt has taken concrete steps to cooperate with international companies to reduce carbon emissions.
The letter was signed by the Egyptian Natural Gas Holding Co. (EGAS) and Shell Global, Pyramid Navigation, Infinity Solar, and Eagle Oil & Gas, the Ministry of Petroleum and Mineral Resources.
It also includes research into establishing a joint company that would be dedicated to carrying out the feasibility study and explore the best ways to implement the project.
El Molla explained that Egypt is keen to capitalize its location to enhance its role as a regional hub for energy trade, particularly clean resources. This would be in line with Egypt’s strategy to boost its uses of clean and low-carbon energy.
The Egyptian state supports the trend towards maximizing the use of clean energy and attaches great importance to it, he added.
This new cooperation opens new rooms for EGAS to become "a major supplier of liquefied natural gas for ships transiting Egypt and neighboring countries," El Molla explained.
Egypt enjoys many advantages in the field of ship bunkering with liquefied natural gas as a low-carbon fuel, most notably the strategic location of the Suez Canal as a global navigation corridor suitable for the establishment of the bunkering project, and the availability of liquefied natural gas in the country, the minister said.
