Petroleum Africa
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Monday, October 31, 2022
The Egyptian Holding Gas Company (EGAS) has signed a letter of intent (LoI) to explore the feasibility of using liquified natural gas (LNG) as a shipping fuel and the establishment of a joint company to prepare a feasibility study for the project.
The LoI was signed with Shell, Pyramid Navigation, Affinity Gas and Eagles Gas.
Minister of Petroleum and Mineral Resources Tarek El Molla commented that Egypt has several resources for supplying ships with LNG as low-carbon fuel and highlighted the country’s strategic location, the Suez Canal and existing LNG supplies in Egypt.
The President of LNG at Shell, Tahir Farouki, said that this cooperation is deepening the long partnership with Egypt and affirmed Shell’s support to Egypt as a regional energy hub.
Additionally, the representative of Eagle Gas company stated that the company has been working in the field of shipping transportation for more than 50 years in Egypt and it has great expertise in managing marine projects.
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