FILE - Minister of Petroleum Tarek El-Molla speaks during the Al-Ahram Energy Conference on December 18, 2017 FILE - Minister of Petroleum Tarek El-Molla speaks during the Al-Ahram Energy Conference on December 18, 2017

Egypt, int’l firms discuss using LNG plants

Mon, Dec. 18, 2017
CAIRO - 18 December 2017: Egypt is negotiating with international oil companies working on Mediterranean fields to process their output from liquefied natural gas (LNG) plants in Beheira’s Idku city, Minister of Petroleum Tarek El-Molla said during the first Al-Ahram Energy Conference.

Operations of Idku plant, which is now operated by Royal Dutch Shell, resumed once again in September 2016 after it acquired BG in late 2015.

The plant, established to export gas, includes an exporting port that accommodates 165,000 cubic meters of gas and two LNG warehouses with a storage capacity of 140,000 each.

Speaking at the conference, Molla noted that they finished building the first phase of the Arab Petroleum Pipelines Company's (SUMED) new maritime pier in Ain Sokhna to trade and store petroleum products.

"The second phase will be finished soon to include butane gas import and transfer facilities," the minister said, adding that the third phase will be concluded in 2018, which will have warehouses and facilities for fuel oil.

Established in 1974, SUMED was founded with $400 million in capital to own and operate two parallel pipelines linking the Ain Sokhna terminal on the Red Sea to the Sidi Kreir terminal on the Mediterranean.

The Egyptian General Petroleum Company (EGPC) holds a 50-percent stake in SUMED.

Other shareholders are Saudi Arabian Oil Company (Aramco) at 15 percent, Kuwait Metal Pipe Industries Company at 15 percent, UAE’s International Petroleum Investment Company at 15 percent and Qatar Petroleum at 5 percent.
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