Egypt has made a step towards establishing the country’s first green methanol production project which will include investments of about $450 million and produce 40,000 tons of green methanol per year.
The joint development agreement for this project was signed on 14 May by Egypt’s Alexandria National Refining and Petrochemicals Company (ANRPC) and Norwegian renewable energy solutions provider Scatec in collaboration with the Egyptian Bioethanol Company.
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وزير البترول والثروة المعدنية يشهد توقيع اتفاقيه مشروع انتاج الميثانول الأخضر https://t.co/3EN5G3JOez pic.twitter.com/jMLToBppgi
Said to be the first of its kind in Egypt and the Middle East, the green methanol project is expected to place Egypt on the global map of countries producing this green fuel for ships, the Ministry of Petroleum and Mineral Resources stated.
The project is to be located in the port of Damietta and it aims to produce 40,000 tons of green methanol per year, which could be increased to 200,000 tons per year in the framework of encouraging the transition to green production.
It will include the construction of renewable energy stations with capacities of no less than 40 megawatts for solar energy and 120 megawatts for wind energy, in addition to a green hydrogen analyzer with a capacity of 60 megawatts. The project also includes a seawater desalination plant and green methanol production and storage stations.
As part of the project, Egypt’s first station for supplying ships with green biofuel will be established.
Chairman of Scatec, Terje Pilskog , noted that this agreement will contribute to placing Egypt at the forefront of green chemical product manufacturing and exporting countries, making it a destination and hub for supplying green fuel to global shipping lines.