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Suez Canal Signs Green Methanol MoU

Maritime Activity Reports, Inc.

December 3, 2023

Source: Suez Canal Authority

Source: Suez Canal Authority

Egypt's Suez Canal economic zone and Scatec ASA have signed a memorandum of understanding (MoU) worth $1.1 billion to supply ships with green fuel, a Suez Canal statement said on Sunday.

The MoU agreed on the sidelines of the COP28 conference held in Dubai envisages production of 100,000 tonnes of green methanol per year by 2027, the statement said.

(Reuters - Reporting by Yusri Mohamed Editing by David Goodman)