Egypt eyes development of LNG bunkering hub

Egyptian state-owned gas company EGAS has signed a letter of intent with Shell, Pyramid Navigation, Affinity and Eagle Gas Shipping on studying the development of an LNG bunkering hub to service ships in the Mediterranean, the country's petroleum ministry reported on October 30.

The joint venture project would exploit the strategic location of the Suez Canal as a major shipping route between Asia and Europe. It would also support shipping companies in the Mediterranean in reducing their emissions as the region is set to become an emissions control area under a UN agreement reached in December last year.

EGAS signed a memorandum of understanding with Norway's Kanfer Shipping and Leth Suez Transit (LETH) on establishing an LNG bunkering hub, with a view to launching the facility by 2025.