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Volume 41 Issue 7
11
OAPEC Member Countries
Egypt signs deal to produce high-octane
benzene in Alexandria
Egypt’s Petroleum and Natural Resources Minister HE
Engineer Sherif Ismail witnessed the signing of a deal to
set up a new project to produce high-octane benzene in
Alexandria with investments worth some $300 million.
The project comes in line with the Petroleum Ministry’s
strategy aimed to reduce exports and benefit the most from
production units at refineries to increase their domestic
production capacity, in order to meet the growing demand
in the domestic market.
Egypt and the French Development
Agency (AFD) have signed a €70 million
loan agreement on 11 June 2015 for a
project aimed to expand natural gas access
to 1.5 million Egyptian households in
eleven governorates nationwide.
The Egyptian side was represented by
the First Undersecretary for Gas Affairs at
Egypt’s Petroleum Ministry, HE Dr Sherif
Sousa and the Deputy Governor of the
Central Bank of Egypt (CBE) Mr Gamal
Negm.
In a press statement after the signing
ceremony, Dr Sousa said that Egypt’s Petroleum Ministry adopts
policies supporting the Egyptian government’s programme to replace
household consumption of Liquefied Petroleum Gas (LPG), which is
mostly imported, with grid-connected natural gas. This will reduce
related subsidies in the country’s budget.
French Development Agency signs Egypt Loan
for Home Gas Delivery
Egypt