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Greek group in talks with Egypt for investments in ship bunkering with LNG

The Ministry of Petroleum and Mineral Resources and the Greek Chandris (Hellas) Inc., which specializes in maritime shipping activities, met with Egyptian officials to discuss investment opportunities available in the petroleum sector – especially in maritime transport and vessel bunkering.

The group expressed a strong desire to increase its activity and investments in Egypt and to expand the activity of transporting liquefied natural gas following the rise in global oil and gas prices, and increasing global demand especially for LNG.

Egyptian Minister of Petroleum and Mineral Resources Tarek al-Mulla stressed, during his meeting with Group Chairman John Chandris, that Egypt’s success in achieving self-sufficiency in natural gas and the surplus opened great prospects for expansion in value-added industries, in addition to the strong growth of liquefied gas trading activity.

Mulla noted the world’s increasing demand for natural gas, which many countries now consider the most important fossil fuel and the best transitional fuel during their energy transition period.

An initiative launched by the Eastern Mediterranean Gas Forum for bunkering ships with LNG comes as part of the global trend to preserve the environment and reduce emissions, he added.

Chandris meanwhile confirmed that the group is willing to invest in projects to establish warehouses for bunkering ships with LNG under the forum’s initiative.

He stressed the importance of the fruitful partnership with the Egyptian petroleum sector, and praised the level of cooperation with the Egyptian General Petroleum Corporation in crude oil transportation.

Chandris said that his group has recently strengthened its fleet of ships with new and advanced tankers, with the aim of expanding in all areas and activities of liquefied natural gas.
Source: Egypt Independent

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