(Cairo / Egypt) – C2X Ltd. wants to produce green methanol on a large scale in Egypt. To this end, a comprehensive framework agreement has now been signed with consortium partners in the presence of Egyptian Prime Minister Mustafa Madbuli to enable and accelerate the construction of the large-scale facilities. The location is reportedly near the Suez Canal. There are also PV and wind power plants to produce the required green electricity.
The project will be carried out in collaboration with the General Authority for Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC) and the Sovereign Fund of Egypt for Investment and Development (TSFE). implemented.
The framework agreement is “another important milestone in achieving our goal of becoming a leading producer of green methanol,” said Brian Davis, Chief Executive Officer of C2X. The project was launched in March 2022 with the signing of a letter of intent. After completing technical and commercial feasibility studies, the parties will reach final investment agreements for the project.
C2X is majority owned by AP Moller Holding. The methanol goes to their subsidiary and major shipping company AP Moller-Maersk, which also has a 20 percent stake in C2X. The joint venture wants to develop, own and operate additional plants for the production of green methanol at “strategic locations”. A number of companies around the world are already working to supply green fuel for 19 methanol-capable container ships that Maersk has specially ordered for its fleet.
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The Danish shipping company Moller-Maersk has C2X Ltd. build a methanol factory on the Suez Canal in Egypt. © Suez Canal Authority
