Petroleum: Accelerate the implementation of 10 new projects for oil and gas pipelines

Economy and stock exchange

The Ministry of Petroleum and Mineral Resources confirmed the continuation of the implementation of new expansions in the infrastructure for the transport, handling and storage of fuel, upgrading its efficiency and adding new energies to it, pointing to the importance of implementing and developing transmission networks of petroleum and gas products and projects to increase storage capacities of petroleum products and development of ports, The main objectives of the Ministry's strategy are to secure fuel supply to consumers in the local market and to transform Egypt into a regional center for the trading and trading of gas and petroleum.

The ministry said that 10 new projects for oil and gas transmission lines and 3 projects are underway to increase storage capacity in Delta, Upper Egypt, Greater Cairo, New Administrative Capital, Suez and Ain Sokhna. The total investment cost is about 5.6 billion pounds, in addition to about 646 million dollars And all of them will enter into service in 2019 to contribute to increasing the efficiency of the transfer of fuel supplies to the provinces and feed the power plants, in line with the country's comprehensive development strategy and a breakthrough in infrastructure that benefits all governorates of Egypt.

The ministry added that the second stage of the project of storage and handling of petroleum products at Sumid port in Al-Sokhna, which includes 3 tanks for storage of diesel oil with a total capacity of 105 thousand cubic meters, is currently under way. This is a new addition to the Sommeed Bio project, which has been working efficiently since last year to receive and store the gas. Through a new sea pier at the port, bringing the total investment cost of the project with its two phases to about 415 million dollars.

The project also includes the implementation of the Sonker project in Al Ain Sokhna. It includes 6 tanks for storage of diesel and gas, with a capacity of 250 thousand cubic meters and two transmission lines at an investment cost of 220 million dollars, in addition to the implementation of 4 new tanks for diesel and petrol at Suez Company for the manufacture of petroleum at a cost of about 55 million pounds.