A fresh boost for the global demand for ammonia-based maritime fuel
Egypt has signed a 7 billion euro agreement with France's EDF and the UAE's Zero Waste to develop a green hydrogen facility near the Gulf of Suez. The project aims to produce over one million metric tons of green ammonia annually, primarily as a low-carbon maritime fuel for ships passing through the Suez Canal.
Great news for the VLAC market and the ecological transition
This initiative highlights Egypt's commitment to developing clean energy and strengthens the global supply chain for green ammonia. With the increasing demand for sustainable maritime fuels, this project presents a long-term growth opportunity for the VLAC market (very large ammonia carriers) as ammonia trade volumes continue to rise. EMF currently operates a fleet of three VLACs.
Source: Hydrogen Insights