Construction is underway on several new infrastructure projects to increase Egypt’s capacity for the transfer and handling of petroleum projects, according to Petroleum Minister, Tarek El Molla. The Minister said that the expansion of infrastructure was a “first priority,” which will help to “convert Egypt into a regional energy power,” Egypt Oil and Gas reports. The remarks were made during the signing of a $324m contract for petroleum products trading in Ain Sukhna.
The projects include the construction of a 2.2km pier to receive LNG tankers with cargo up to 216,000cm and FSRU tankers with a capacity of 170,000cm. On site, there will be warehouses for butane and fuel oil trading. The project will be completed in two phases – the LNG portion to be finished in 2017, and the butane and fuel oil portion to be completed in 2018.