AD Ports Group of Abu Dhabi, Transmar, a container shipping line, and terminal operator in the MENA region, and Orascom Construction, a global engineering and construction contractor, entered into a Memorandum of Understanding (MoU) to collaborate on the establishment of a green methanol storage and export facility in Egypt.
Green methanol is a renewable, synthetic fuel produced without polluting emissions, often derived from green hydrogen. It serves as a low-carbon liquid fuel with several benefits over fossil fuels, such as clean-burning, reduced toxic emissions, and easier, safer, and cheaper storage and transport. It is highly efficient and versatile, suitable for decarbonizing not only the maritime industry but also other hard-to-abate sectors like chemicals and plastics. The growing adoption of green methanol is expected to significantly increase demand, driven by the rise in methanol-fueled ships and the push for decarbonization in line with international environmental goals.
Egypt has over USD 21 billion worth of active industrial projects of which, 26% are located in Suez. The primary objective of the facility is to supply low-carbon fuel for maritime transport, thereby offering a valuable avenue for the adoption of clean alternative energy storage solutions worldwide. This facility will cater to the bunkering needs of major shipping companies that have invested in green methanol-powered vessels.
AD Ports Group is committed to accelerating the energy transition in shipping, positioning itself at the forefront of the green hydrogen revolution. This aligns with the UAE’s broader decarbonization goals and contributes to global environmental stewardship and economic diversification. Their efforts aim to meet the International Maritime Organization’s (IMO’s) greenhouse gas (GHG) strategy and regulations, targeting the decarbonization of international shipping by 2050.
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