Libyan - Egyptian petroleum projects of investments one billion dollar

Egyptian Minister of Petroleum Hamdi El-Banbi said that a study is currently taking place to implement joint projects with Libya worth $1 billion that include establishing a pipeline to transport Libyan petroleum and the expansion and establishment of supply gas stations and car services with Libyan investments in Egypt.

He added that a Libyan - Egyptian joint company was established to study and implement a project to establish the crude oil and gas lines between the two states, whose length will be 360 kilometers for each. Nearly 150,000 barrels of crude oil will be transported daily from Libya to be refined in an Egyptian facility Alexandria.

This came following the talks between the Egyptian minister of petroleum and his Libyan counterpart, Abdullah Salam El-Badry yesterday on the margins of Gaddafi's visit to Egypt.

The Libyan minister added that the Libyan company Tam Oil established 13 stations in Egypt and will establish others during the current year as part of a plan that aims at establishing 50 stations in Egypt.