Egypt's Suez Canal Authority (SCA) and Ministry of Petroleum signed a memorandum of understanding on Sunday to advance a major green-energy infrastructure project, including the development of an LNG liquefaction and bunkering station in El-Raswa, Port Said. The agreement will secure gas supplies for the planned liquefaction and storage facility and deepen cooperation between the SCA and oil-sector companies as technical and executive procedures move towards completion. The Ministry of Petroleum — through the Egyptian Natural Gas Holding Company (EGAS) — has held months of consultations with the SCA and gas operators. The project has undergone detailed feasibility studies with support from international institutions in South Korea, coordinated with the planning and international cooperation ministries. The SCA has also signed a separate MoU with its Korean counterparts outlining project parameters, implementation conditions, and economic assessments, with final approvals now underway. SCA Chairman Osama Rabie said the LNG station underscores the canal authority's strategy to align with global shifts in maritime transport towards cleaner fuels, in line with International Maritime Organisation emission-reduction goals. The station will serve the authority's fleet of tugboats and ferries being converted to run on LNG, he said, forming part of a broader plan to upgrade navigational and logistics services and reinforce the Suez Canal's global competitiveness. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
