Arab Finance: Abu Dhabi Ports Group (AD Ports) has signed a memorandum of understanding (MoU) with Egypt-based Transmar and Orascom Construction to mull the possibility of establishing a green methanol storage and export facility in Egypt, as per a statement.

The facility will also supply low-carbon fuel for maritime transport.

In addition, it will provide bunkering solutions for mainliners who have ordered green methanol-powered vessels.

“This initiative not only aligns with the UAE's decarbonization 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,” Ammar Mubarak Al Shaiba, CEO of Maritime and Shipping Cluster at AD Ports Group, commented.

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