Minister of Petroleum and Mineral Resources Tarek El Molla recently inspected progress at the Methanex plant in Damietta, reviewing state-of-the-art facilities and production units designed for maximum safety and global sustainability.

El Molla emphasized the ministry's full support for the partnership between the petroleum sector and Methanex International to meet production goals and increase methanol quantities for various industries. The ministry is also backing efforts to reduce greenhouse gas intensity by 10% by 2030 and explore methods to lower carbon intensity in methanol plants.

Mohamed Shindy, Managing Director of Methanex Egypt, highlighted the project as the largest Canadian joint venture, with Methanex holding a 50% stake. Key partners from the Egyptian government include ECHEM (12%), EGAS (12%), GASCO (9%), and APICORP (17%). With an annual production capacity of 1.3 million tons of methanol, the plant serves both local and European markets, supporting various industries' operations.