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UAE-based port operator the AD Ports Group, Egyptian container shipping line Transmar, and Cairo-based Orascom Construction have entered into a memorandum of understanding (MOU) for the development of a green methanol storage, export, and bunkering facility in the Suez Canal area.
The AD Ports Group said the new facility will supply low-carbon fuel for maritime transport.
The partnership will develop the facility to help promote the use of green methanol as an alternative to fossil fuels. This type of methanol is a synthetic fuel produced renewably and without polluting emissions, and can be produced from green hydrogen.
As a fuel, green methanol has several benefits compared to fossil fuels. It is clean-burning and has less and non-toxic emissions. As a liquid, it is easier, safer, and cheaper to store, transport, and handle, as existing infrastructure can be used.
Green methanol is also a highly efficient and versatile fuel as it is produced from renewable feedstocks including renewable hydrogen and biomethane.
