{"id":84502,"date":"2024-05-29T00:00:00","date_gmt":"2024-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/05\/29\/ad-ports-transmar-and-orascom-to-build-green-methanol-plant-in-egypt\/"},"modified":"2024-05-29T00:00:00","modified_gmt":"2024-05-29T00:00:00","slug":"ad-ports-transmar-and-orascom-to-build-green-methanol-plant-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/05\/29\/ad-ports-transmar-and-orascom-to-build-green-methanol-plant-in-egypt\/","title":{"rendered":"AD Ports, Transmar and Orascom to build green methanol plant in Egypt"},"content":{"rendered":"

Transmar, Orascom + AD Ports link up on green methanol export facility: <\/strong>Egypt\u2019s Transmar and Orascom Construction inked an agreement with AD Ports Group to develop a green methanol storage and export facility in Egypt in a bid to supply low-carbon fuel for the maritime shipping industry, according to a statement<\/a>. An investment ticket for the plant and a timeline for construction and operations were not specified.<\/p>\n

Why is this important?<\/strong> Green methanol \u2014 produced from biomass, captured carbon, or green hydrogen \u2014 stands to slash emissions from shipping vessels by 60% to 95%<\/a> when compared with conventional bunker fuels. <\/p>\n

Demand is expected to rise:<\/strong> Some 100 methanol-powered vessels are expected to be in service by 2026 racking up to 1 mn tonnes in green methanol demand and methanol-powered vessels are set to represent 14% of the global commercial fleet based on current orderbooks, the statement notes citing data from Drewry and Clarkson. <\/p>\n

And regulations are driving the push: <\/strong>International regulations \u2014 including the current International Maritime Organization\u2019s greenhouse gas strategy<\/a> currently being revised \u2014 are driving adoption of the clean fuel which could see demand reaching 4 mn tonnes a year within the next 5 years, the statement added. <\/p>\n

Egypt is looking to establish itself as a green fuel hub: <\/strong>Egypt inked a USD 3 bn framework agreement<\/a> in October with AP Moller Holding and AP Moller-Maersk-owned C2X for the production of green methanol and its derivatives at the Suez Canal Economic Zone (SCZone) and Maersk has been eyeing<\/a> an acquisition of the 545 MW Zafarana wind farm in Egypt, with plans to use the power to produce green methanol for ships. The company looks to produce 300k tons of green methanol per year in the project\u2019s first phase, with that figure ramping up to 1 mn tons by the conclusion of the project\u2019s last phase. Norway\u2019s Scatec and Alexandria National Refining & Petrochemicals Company (ANRPC) inked a USD 450 mn agreement last year<\/a> to establish a green methanol plant in Damietta and Scatec inked a USD 1.1 bn agreement<\/a> in February with SCZone to supply ships with green fuel in east Port Said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Green methanol stands to slash emissions from shipping vessels by 60% to 95%<\/p>\n","protected":false},"author":1,"featured_media":84503,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[432],"tags":[40,11,274,285,45],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-methanol","tag-egypt","tag-enterpriseclimate","tag-green-methanol","tag-green-shipping","tag-morocco","wpautop","entry"],"acf":{"mongo_id":"4ccd0a08-7787-4db2-bff8-6f449cbe7bf6","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2295.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AD Ports, Transmar and Orascom to build green methanol plant in Egypt","related_issue":[84495],"teaser":"Green methanol stands to slash emissions from shipping vessels by 60% to 95%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.145b3436-7904-4acc-ad75-78d3a4bc5ad4.mp3"},"yoast_head":"\nAD Ports, Transmar and Orascom to build green methanol plant in Egypt - 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