Methanex Egypt, petroleum ministry sign MoU to boost process safety management in oil, gas, petrochemical sectors

The MoU was signed during Egypt’s largest energy show, EGYPES 2025, held from 17 to 19 February at Al-Manara International Conference Centre in New Cairo.  

Karim Badawi, minister of petroleum and mineral resources, and key oil and gas industry representatives witnessed the signing.

Methanex Egypt is a joint venture between the Canadian Methanex Corporation, the world’s largest methanol producer, and several Egyptian entities, including the Egyptian Petrochemicals Holding Company (ECHEM) and the Egyptian Natural Gas Holding Company (EGAS).

Located in Damietta, Methanex Egypt is one of the most energy-efficient methanol plants worldwide. The company serves local and global markets with an annual methanol production of up to 1.3 million tons.

What to expect?
 

The new MoU builds on the successful partnership established in 2018, which saw the development of essential PSM standards and guidelines and the creation of a comprehensive framework for PSM within Egypt’s key industrial sectors. It marks a further commitment to advancing safety standards in Egypt's oil, gas, and petrochemical industries.

“This partnership has allowed us to work closely with the petroleum ministry and industry stakeholders to integrate international best practices into our operations. The new MoU represents an important step forward in our collective goal of saving lives and improving safety standards across the sector,” said Mohamed Shindy, managing director of Methanex Egypt.

The new MoU reinforces the milestones achieved under the previous 2020 agreement, which resulted in a detailed three-year roadmap for PSM implementation, the establishment of steering committees, and the development of 24 crucial PSM standards. These efforts have been pivotal in ensuring the safe design, construction, and operation of facilities in Egypt’s energy sector.