Libyan oil pipeline on the way to Egypt

Egyptian engineers have finished the studies for setting up a pipeline transferring oil from the Libyan city of Tabruk to the Egyptian city of Alexandria, where it will be refined in the Egyptian refineries. The 622 kilometer pipeline will have a capacity of 2 million barrels a year.

The two countries reached an agreement to entrust Egyptian companies like Petrojet with setting up the pipeline, while the Libyan government will be responsible for financing the project, whose cost is expected to be $45 million. The implementation process of the project will start at the beginning of the coming year.

Meanwhile, the Egyptian-Libyan Higher Committee will convene in the middle of the current month in Cairo for two days, headed by the two Prime Ministers of the two countries. The agenda of the meetings includes reviewing the joint projects whose feasibility studies are ready in order to give instructions to implement them. These projects include setting up a railway at a cost of $1.5 billion, connecting the railway of Marsa Matrouh in Egypt with the railway of Tabruk in Libya.

The meetings will also study means of lifting the barriers obstructing the free trade movement between the two countries. The volume of the trade exchange between the two countries is worth $1 billion.