October 03, 2025 [Egypt Today]- Egypt’s Ministry of Petroleum and Mineral Resources and the Emirate of Fujairah in the United Arab Emirates have signed a cooperation agreement to establish a logistics hub for the storage and trading of crude oil and petroleum products in New Alamein City on the Mediterranean coast.

The project will be implemented through the establishment of an Egyptian joint-stock company in partnership between the two sides.

The agreement was signed by Egyptian Minister of Petroleum and Mineral Resources Karim Badawi and Mohammed Saeed Al Dhanhani, Director of the Emiri Court in Fujairah.

It aims to develop the Hamra Petroleum Port into a regional hub for crude trading that will serve oil flows between the Middle East and Europe.

The cooperation includes transferring operational and technical expertise from Fujairah Oil and Gas Corporation and applying advanced systems in petroleum port management to enhance efficiency, expand capacity, and maximize economic returns from Egypt’s infrastructure.

The agreement also covers crude oil storage at Hamra Port facilities to boost asset returns and strengthen Egypt’s competitiveness in storage and transit services, particularly given the port’s strategic location connecting the Red and Mediterranean Seas through an integrated pipeline network.

In addition, both parties signed a commercial agreement to supply petroleum products to the Egyptian General Petroleum Corporation, supporting fuel security and local market stability.

Minister Badawi described the agreement as a “qualitative leap” in Egyptian-Emirati energy cooperation, highlighting Egypt’s plans to launch strategic projects in gas, refining, storage, and transport in partnership with the UAE.

For his part, Al Dhanhani affirmed Fujairah’s view of the Egyptian market as a “long-term strategic destination,” stressing that the new project reflects the strength of bilateral economic ties and paves the way for broader cooperation in energy and petroleum infrastructure across the region.