Egypt Signs $324 Million Contract for Petroleum Products Station in Ain Sukhna
The Ministry of Petroleum and Mineral Resources has signed a $324 million contract to develop a petroleum products circulation station in Ain Sukhna, aiming to enhance national energy infrastructure. This project will include a 202-km seaport for LNG tankers, contributing to Egypt's goal of becoming a regional energy hub.
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The Egyptian Ministry of Petroleum has finalized a $324 million investment contract for a petroleum products circulation station in Ain Sukhna. The project encompasses a 202-km seaport designed for liquefied natural gas (LNG) tanker ships with capacities up to 216,000 square meters.
Phase one, focusing on LNG circulation, is scheduled to begin operations in Q1 2017, while phase two, involving mazot and gas stove circulation, is set for Q2 2018. The initiative aims to bolster Egypt's energy infrastructure and secure LNG provisions, facilitating the country's transformation into a regional energy hub. The contract was signed by key officials from EGAS and Sumed Company.
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