Egypt to Become Regional Petroleum Hub with UAE in Partnership Worth $3 Billion
08.09.2024 By Tank Terminals - NEWS

August 09, 2024 [Egypt Independent]- Egyptian Prime Minister Mostafa Madbouly has presided over the signing ceremony of a Memorandum of Understanding at the New Alamein City government headquarters to become a regional petroleum hub with the UAE.

 

This landmark agreement between Egypt and the UAE aims to replicate the successful integrated petroleum system of Fujairah at Hamra Port, located on Egypt’s Mediterranean coast.

The deal aligns with the Egyptian Ministry of Petroleum and Mineral Resources’ strategy to establish Egypt as a regional hub for crude oil and petroleum products trading.

It also aims to leverage existing infrastructure, including port facilities, storage capacities, and marine berths, to facilitate the reception and trading of crude oil and petroleum products.

The MoU further encompasses the possibility of supplying petroleum products to the local market through existing partnerships between the Fujairah Company and global oil and gas companies.

It offers a competitive advantage to the Egyptian General Petroleum Corporation.

Additionally, the agreement explores the utilization of existing petroleum sector facilities for trading petroleum products and the establishment of a new logistics zone in the Mediterranean region, backed by potential investments of up to three billion dollars, subject to increase.

A joint working group has been formed by both the Egyptian and Emirati sides to oversee the implementation of the agreement’s provisions and address any challenges.

 

TankTerminals.com is a market research platform with operational, infrastructural and contact details of more than +8,500 tank terminals and +5,000 production facilities worldwide.


Access data. Decide better. See how.

A total of 110 tank terminals and production facilities in Egypt are listed in TankTerminals.com.

Petroleum refineries: 10. Chemical sites: 18. Hydrogen plants: 7. Vegetable Oil Plants: 5.
LNG Liquefaction Plants: 2. Crude Petroleum Export: 1. Other sites: 1.

We list here 8 terminals and production facilities in Egypt with a direct link to access their data.

BP Partners with Palantir for AI Tech
11.21.2024 - NEWS
November 21, 2024 [Tank Storage]- Palantir Technologies and BP have announced an enterprise agree... Read More
Aramco, Rongsheng Petrochemical Ink Deal to Progress Saudi Refinery Project
11.20.2024 - NEWS
November 20, 2024 [Rigzone]- Saudi Arabian Oil Co. (Aramco) and Rongsheng Petrochemical Co. Ltd. ... Read More
Stolthaven Terminals Expands in Malaysia to Boost Efficiency and Capacity For Customers
11.20.2024 - NEWS
November 20, 2024 [Stolt-Nielsen]- Stolthaven Westport held an event earlier this month to celeb... Read More
Open Season For CHANE’S Rotterdam Ammonia Import Terminal Development
11.20.2024 - NEWS
November 20, 2024 [Storage Terminals Magazine]- Chane has announced the next phase of decision-ma... Read More