AD Ports Group (ADX: ADPORTS), Transmar, and Orascom Construction signed a memorandum of understanding (MoU) to develop a green methanol storage and export facility in Egypt. This project aims to supply low-carbon fuel for maritime shipping and potentially establish a global network for clean alternative energy storage.

The new facility will offer bunkering solutions for ships powered by green methanol, aligning with AD Ports Group’s decarbonization strategy and expansion into clean energy liquid bulk storage.

“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 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,” Captain Ammar Mubarak Al Shaiba, CEO – Maritime & Shipping Cluster, AD Ports Group, commented.

Industry experts predict over 100 methanol-powered ships in operation by 2026, creating a demand for an additional million tonnes of methanol. According to Drewry and Clarksons, this surge will propel the global fleet of methanol-fueled vessels from 2% to 14% based on current orders.