Egypt to transfer Libyan oil

The Egyptian Minister of Oil Hamdi Al Banbi confirmed that a pipeline will be installed to transfer Libyan crude oil with a capacity of 950 thousand barrels a day, which will be refined in the Egyptian refineries.

Libyan Oil Minister Abdalla Al Badri has accompanied his Egyptian counterpart while inaugurating the first gas station in the area of Sidi Barani, northwest of Egypt by the Egyptian-Libyan border. This is the first step of a new project to establish 50 gas stations on the coastal road connecting the two countries. Engineering studies have been finished to complete the road, of which long areas are already paved.

Al Badri said that the volume of investment in the new project is LE 150 million. He added that the project to extend a pipeline between the city of Tabrouk in Libya to the city of Alexandria in Egypt will start at the beginning of next year. Another pipeline will be installed which will transfer natural gas from Egypt to Libya.

A private sector refinery will be established in Alexandria within the peaceprojects in the region to support such projects.