- The green methanol plant will be located in the port of Damietta and is expected to have an annual production capacity of 40,000 tons, which could be increased to 200,000 tons annually.
- The green methanol production project aligns with Egypt’s National Climate Strategy 2050,
Egyptian chemicals firm, the Alexandria National Refining and Petrochemicals Company (ANRPC), has signed a Memorandum of Understanding (MoU) with Norwegian renewables company, Scatec for the development of a $450 million green methanol production project in collaboration with the Egyptian Bioethanol Company. Announced by Egypt’s Ministry of Petroleum and Mineral Resources, the green methanol plant will be located in the port of Damietta and is expected to have an annual production capacity of 40,000 tons, which could be increased to 200,000 tons annually.
According to a statement by Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, this project is the first of its kind in Egypt and the Middle East. It will “contribute to placing Egypt on the global map of nations that produce green fuel for ships.” The project includes the construction of renewable energy stations with capacities of 40 MW for solar power and 120 MW for wind power. Also, the joint development agreement will involve the development of a 60 MW green hydrogen analyzer, a seawater desalination plant, and a green methanol production and storage station.
Scatec Chairman, Terje Pilskog, highlighted that the MoU reflects the renewable energy company’s commitment towards providing Egypt with sustainable, high-quality green fuel while noting that the agreement will support Egypt as a hub to supply green products to global shipping lines. The green methanol production project aligns with Egypt’s National Climate Strategy 2050, a strategy outlining Egypt’s objectives to reduce carbon emissions while promoting renewable energy sources and exploring alternative forms of energy, such as green hydrogen.