AD Ports Group, container shipping line and terminal operator Transmar and Orascom Construction, a global engineering and construction contractor, have signed a Memorandum of Understanding (MoU) for the development of a green methanol storage and export facility in Egypt.
Announcing the MoU, AD Ports Group said the addition of a facility in this area will provide bunkering solutions for those mainliners who have ordered green methanol powered vessels and is aligned with the Group’s overall decarbonisation strategy and expansion into clean energy liquid bulk storage.
Industry sources anticipate that more than 100 methanol-fuelled ships will be in service from 2026, representing around a million tonnes of additional methanol demand, whilst the methanol-fuelled vessel fleet will grow from 2% to 14% of the global fleet based on orders already placed.
Captain Ammar Mubarak Al Shaiba, CEO – Maritime & Shipping Cluster, AD Ports Group, said: “By signing this MoU with Orascom Construction who have vast international experience in bulk liquid terminals for Methanol storage, and Transmar, who have decades of expertise in this region and within terminal operations, AD Ports Group and its subsidiaries are taking a significant step towards the sustainable future of energy.
“This initiative not only aligns with the UAE’s decarbonisation goals but also accelerates the energy transition in shipping, positioning us at the forefront of the green hydrogen revolution and enabling us to contribute to global environmental stewardship and economic diversification.”
