A parliamentarian calls for the settlement of green fuel investments in Egypt

Engineer Mahmoud Essam, a member of the House of Representatives, praised the steps taken by the Ministry of Petroleum and the Suez Canal Economic Zone to localize the supply services of ships and giant containers with clean green fuel, in implementation of international commitments to reduce carbon emissions and limit global warming.

 The deputy added that the Suez Canal Economic Zone announced the launch of the first process of supplying ships with green methanol from Port Said port, in mid-August, as the first experiment to use green fuel in Egypt and the Middle East.

The deputy added, in his statements, that the Suez Canal Economic Zone announced the launch of the first process of supplying ships with green methanol from Port Said port, in mid-August, as the first experience of using green fuel in Egypt and the Middle East.

Economic zone

Essam pointed out that the economic zone of the canal has multiple elements that qualify it to compete in this promising market. The most important of which is the strategic location and the passage of major giant shipping lines through it, in addition to the new projects that have been contracted to produce green fuel in the region to cover the needs of ships transiting the canal. 

The most important of which is the project being implemented by the Norwegian company Scatec, a leader in the field of green energy solutions, in alliance with national companies in the petroleum sector, to establish a green methanol production plant with an initial production capacity of 40,000 tons and in the future to increase to 200,000 tons, as well as an agreement with the same company to start producing green ammonia. This contributes to placing Egypt on the global map of countries producing green fuel used in supplying ships.

Green methanol

Green methanol is a clean fuel for ships. As it is produced by extracting carbon dioxide from the air and combining it with hydrogen that is extracted through the electrolysis of water, thus this manufactured fuel reduces the concentrations of greenhouse gases that cause global warming in the layers of the atmosphere.

Essam pointed out that the giant shipping companies; Like Maersk, it is adopting plans to enhance its reliance on methanol in supplying its marine fleet, and reduce the uses of traditional fossil fuels, after studies confirmed that the shipping sector is responsible for 3% of greenhouse gas emissions, adding that the use of methanol may contribute about 95% to reducing these emissions.

Foreign investments

Representative Mahmoud Essam called for attracting more foreign investments in this field in light of expectations of an increase in global demand for green methanol, which may open new export horizons for the Egyptian petrochemical sector of green products, and enhance its competitiveness and presence in foreign markets.

Essam added that the Methanol Institute in Washington expects green methanol production to reach more than 8 million metric tons by 2027, explaining that it has some physical properties over other manufactured fuels, such as that it remains liquid at ambient temperature and pressure unlike hydrogen. This makes it easier to ship and more efficient to store, as well as being biodegradable; Which makes it safer if it leaks.