Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi met with Suez Canal Authority Chairman Osama Rabie to discuss establishing a natural gas liquefaction and storage terminal in Port Said, which will supply the authority’s vessels with liquefied natural gas (LNG) as part of its green transformation strategy, as per a statement.
The terminal will be built using the latest international technologies and is expected to mark a significant step toward adopting clean fuel solutions in the operation of the Suez Canal Authority’s fleet.
Badawi affirmed the ministry’s full support for the authority in implementing projects that enhance the canal’s operational efficiency, emphasizing that the planned LNG terminal will be a major addition to the vessels system while adhering to environmental sustainability standards.
He also praised the authority’s efforts in facilitating the passage of liquefied petroleum gas (LPG) vessels through the canal and providing navigational support for their berthing at Ain Sokhna ports, which helped strengthen Egypt’s national gas network and maintain steady supplies to power plants and industries during the past summer.
For his part, Rabie expressed appreciation for the ongoing cooperation with the Ministry of Petroleum and highlighted the authority’s readiness to collaborate on the Port Said project.
He noted that the terminal would serve as a foundation for developing similar facilities in other Egyptian ports to serve the maritime sector.
Rabie added that the Suez Canal prioritized the transit of LPG vessels during the summer due to their strategic role in supporting Egypt’s energy system.
He stressed that the canal continues to balance safety and speed for all types of vessels while providing significant economic advantages compared to alternative routes, reinforcing its global position as a preferred and secure maritime passage.