The Oil Ministry and the Suez Canal Authority (SCA) signed an MoU to develop a liquefied natural gas (LNG) station in Port Said, according to a statement. The station will liquefy, store, and supply LNG to canal tugboats and ferries, replacing conventional fuels.

Setting the scene: Demand for low-carbon shipping fuels — including LNG — is expected to hit 25 mn tons of oil equivalent (mtoe) by 2030, up from 17 mtoe last year, according to the International Maritime Organization estimates.

Part of a bigger plan: The SCA aims to transform the canal into a “ Green Canal ” by 2030, aligning with Egypt’s sustainable development goals and IMO decarbonization efforts. The plan includes offering incentives for vessels using green energy, reducing fuel consumption by 20-80% through shorter transit routes, converting SCA marine unit engines to natural gas, and installing hybrid solar and wind systems at navigation stations, among other measures.

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