Prime Minister, Mostafa Madbouly, has put the cornerstone of the first petrochemical industrial complex at the Suez Canal economic zone (SCZONE) in Ain El Sukhna at a cost of $7.5 billion as a part of the Egyptian plan to meet the domestic market need of petroleum and chemical products.

Egyptian Natural Gas Holding Company (EGAS) will submit a global tender for renting a third floating and storage regasification unit (FSRU) with the capacity of 750mcf/d. The vessel will boost the gas import capacity to 1.95bcf/d, from the current capacity of 1.2bcf/d.