EGAS, Shell, 3 other firms to study building LNG bunkering hub in Suez Canal

Egyptian Natural Gas Holding Company (EGAS) signed a letter with Shell Global, Pyramid Navigation, Infinity Solar, and Eagle Oil & Gas to study (Liquefied Natural Gas) LNG supply project for ships navigating in Suez Canal, Ministry of Petroleum announced.

The agreement also includes studying the establishment of a joint venture to carry out a feasibility study and identify the most appropriate means to implement the project, according to the ministry’s statement on Saturday.

This partnership provides new opportunities for EGAS to be a primary supplier of natural gas to vessels passing through Egypt and neighboring countries, Minister Tarek al-Molla added.

Shell Global’s president Tahir Farooqui, said this cooperation strengthen the long-term partnership with Egypt and reaffirms Shell’s commitment to support Egypt’s ambition as a regional centre for energy trading.

The representative of Eagle Gas added that with its shareholders they have been working in the maritime transport sector within Egypt for nearly 50 years, which support the successful steps of establishing a clean fuel supply centre.

al-Molla has assured that the petroleum sector is taking concrete steps to collaborate with global companies to reduce carbon emissions, pointing that Egypt supports these directions and attaches the utmost importance to them.

Egypt plays an important role in the Shell’s plan to triple its structure for supplying vessels with LNG, compared to the currently available in international shipping lanes by the end of this decade.

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