Egypt Signs With Maersk to Explore Green Fuel Production
The agreement focuses on establishing large-scale production of Egypt-based hydrogen and green marine fuel, in the hopes of achieving zero emissions in and total decarbonisation of global shipping.
The General Authority for the Suez Canal Economic Zone and a number of government institutions have signed a Memorandum of Understanding with Danish shipping giant Maersk to ramp up production of green fuels.
The agreement focuses on establishing large-scale production of Egypt-based hydrogen and green marine fuel, in the hopes of achieving zero emissions in and total decarbonisation of global shipping. The parties - which include the EgyptianNew and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and the Sovereign Fund of Egypt for Investment and Development - will conduct feasibility studies before the end of 2022 in order to explore these possibilities.
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