A Memorandum of Understanding (MoU) was signed on Monday in a joint bid to further accelerate the supply of green fuels and the global transformation to net-zero shipping, according to the Maersk's release.
This partnership follows six fuel sourcing partnerships announced earlier this month, and with it Maersk joins forces 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 (TSFE).
The parties will be conducting a feasibility study before the end of 2022 to examine an Egypt-based hydrogen and green marine fuel production, powered by renewable energy with Maersk as committed offtaker.