COPENHAGEN : Maersk and Egyptian authorities have signed a partnership agreement to explore the establishment of large-scale green fuel production in Egypt.
in an effort to further accelerate the supply of green fuels and the global transformation to net-zero shipping.
The parties will be conducting a feasibility study before the end of 2022 to examine Egypt-based hydrogen and green marine fuel production, powered by renewable energy with Maersk.
“Egypt has excellent conditions for renewable energy production and ambitions to become global leader in the green energy value chain,” stated Henriette Hallberg Thygesen, CEO, of fleet & strategic brands at Maersk.
Additionally, Ayman Soliman, CEO of The Sovereign Fund of Egypt, noted that this partnership “presents a unique opportunity to strengthen a longstanding relationship with a key strategic partner to the Egyptian Government over the last 100 years.”
In this framework, Maersk will also join forces with the General Authority for the Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), and the Sovereign Fund of Egypt for Investment and Development (TSFE).
“Maersk’s bid to accelerate the supply of green fuels and the global transformation to net-zero shipping will expand the Suez Canal’s service offering as a main global hub for green bunkering in the region,” added Soliman.