Cairo: Egypt's Suez Canal Authority (SCA) and Ministry of Petroleum signed a memorandum of understanding to advance a major green-energy infrastructure project, which includes the development of an LNG liquefaction and bunkering station in El-Raswa, Port Said.

According to State Information Service Egypt, the agreement aims to secure gas supplies for the planned liquefaction and storage facility and enhance cooperation between the SCA and oil-sector companies as technical and executive procedures progress towards completion. The Ministry of Petroleum, through the Egyptian Natural Gas Holding Company (EGAS), has engaged in months of consultations with the SCA and gas operators to ensure the project's feasibility.

The project has been subject to detailed feasibility studies, supported by international institutions in South Korea, and coordinated with the planning and international cooperation ministries. The SCA has also established a separate memorandum of understanding with its Korean counterparts, outlining project parameters, implementation conditions, and economic assessments, with final approvals currently underway.

SCA Chairman Osama Rabie stated that the LNG station reflects the canal authority's strategy to align with global shifts in maritime transport towards cleaner fuels, in accordance with International Maritime Organization emission-reduction goals. He highlighted that the station will support the authority's fleet of tugboats and ferries being converted to run on LNG, as part of a broader initiative to upgrade navigational and logistics services and strengthen the Suez Canal's global competitiveness.