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Qatar Contribute to the Egyptian Oil Refinery

Source: GAFI 9/24/2012, Location: Africa

Announced "Qatar Petroleum International," it has entered into a partnership with the company "Orient" and Egyptian General Petroleum Corporation to build a new oil refinery in Egypt via the Egyptian Refining Company, which was established to create those refinery at a cost of roughly 22 billion pounds, the equivalent of about $ 3.6 billion.

Osama Kamal, Minister of Petroleum and Mineral Resources of Egypt, that the declaration of Qatar for its participation in the new refinery project comes within the framework of the fruitful cooperation between the two countries.

The news agency quoted the country "QNA" by the Minister of Petroleum, saying that this giant project contributes to meet domestic demand in Egypt for petroleum products, and at the same time enjoy the usefulness of high economic in the light of the availability of a growing market for products which achieve the common interest of all parties.

Kamal also considered that contribution is a first step to further cooperation between the two countries in the fields of oil, gas and petrochemicals, pointing to encourage the Egyptian government to Arab and private investments these areas to the country.

Kamal added that Egypt is looking to strengthen cooperation with Qatar, especially in the promising opportunities for investment in the field of import liquefied natural gas from Qatar and the establishment of units capable of receiving liquefied natural gas in Egypt for industrial uses, power generation and petrochemical industry for the benefit of the two countries.

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