Suez Canal Authority and Ministry of Petroleum ink LNG station deal
Published by Ellie Brosnan,
Editorial Assistant
Tanks and Terminals,
The agreement will secure gas supplies for the planned liquefaction and storage facility and deepen co-operation 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, co-ordinated with the planning and international co-operation 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 Organization emission-reduction goals. The station will serve the authority’s fleet of tugboats and ferries being converted to run on LNG, forming part of a broader plan to upgrade navigational and logistics services and reinforce the Suez Canal’s global competitiveness.”
Read the article online at: https://www.tanksterminals.com/storage-tanks/24112025/suez-canal-authority-and-ministry-of-petroleum-ink-lng-station-deal/