Egypt and Norway back in May signed an agreement to jointly develop a new green methanol production project, which is the first of its kind in Egypt and the Middle East.
The agreement was signed between Alexandria National Refining and Petrochemicals Company (ANRPC) and the Norwegian company Scatec, a leading company in the field of green energy solutions, in cooperation with the Egyptian Bioethanol Company (EBIOL).
Nine key points about the project:
1- The new project aims to produce 40,000 thousand tons annually of green methanol, which can be increased to 200,000 tons annually.
2- The project comes as part of Egypt’s overall goal towards transitioning to green production, which opens new export horizons for the Egyptian petrochemical sector of green products.
3- It enhances the competitiveness of the Egyptian petrochemical sector in terms of green products and its presence in foreign markets by keeping up with its requirements.
4- Green methanol is a clean fuel.
5- The project, which Scatec attaches great importance to, will help in placing Egypt on the global map of countries producing green fuel to supply ships.
6- It will include the construction of renewable energy stations with capacities of no less than 40 megawatts for solar energy and 120 megawatts for wind energy, in addition to a green hydrogen analyzer with a capacity of 60 megawatts, alongside a seawater desalination plant and production and storage stations for green methanol.
7- It will also include the first station in Egypt to supply ships with green bio-fuel.
8- It will be located in the port of Damietta, with investments of about US$450 million.
9- The project is one of two green energy projects coming as part of the partnership between the Egyptian petroleum sector and the Scatec Company, after the conclusion of the green ammonia production project agreement at the end of February.