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Cooperation between Egypt and Libya

Source: www.OilEgypt.com 7/6/2003, Location: Egypt

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Currently the Egyptian Petroleum Sector is studying plans for developing projects with Libya through "Al Tube" the Arab Company for Oil & Gas pipeline.

The Libyan crude oil will be transferred to the Egyptian refineries through a pipeline from Tabruk in Libya to Alexandria in Egypt and the Egyptian natural gas will be transported to Libya for further integration with the local and international grids of natural gas.

The Arab Company for oil & gas pipeline "Al Tube" is an Egyptian joint stock company established according to the provisions of the General Authority of Investment and Free Zones decree between Egypt & Libya. The Egyptian petroleum sector represented by the Egyptian General Petroleum Corporation (EGPC), GASCO and Petrojet have 50% shares and the Libyan national petroleum institute has 50% shares. Al Tube capital is $100 million. Al Tube will work in the field of construction and operation of oil & gas pipelines and oil storage tanks.

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