Egypt, Maersk's C2X sign agreement worth up to $3 bln for production of green fuel

Egypt and Maersk's C2X have embarked on a partnership to further the cause of green energy production. Announcing a framework agreement in October 2023 that is valued up to $3 billion, the two entities aim to produce green fuel and its derivatives in the Suez Canal economic zone. The agreement comes on the back of Maersk's recent venture in September, where the Danish shipping and logistics company partnered with its majority owner to establish C2X. The new company is focused on developing large-scale green methanol projects not only in Egypt's Suez Canal but also in the port of Huelva in Spain and various other strategic locations. By tapping into the potential of green fuel, this partnership could be a significant game-changer for sustainable energy production in the future.