EIB grants Egypt 100 million Euro for the Arab gas pipelineSource: www.oilegypt.com 6/7/2004, Location: Africa |
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Cairo- 7 June 2004- The European Investment Bank (EIB) has granted a loan of 100 million euro to the Egyptian Natural Gas Holding Company (EGAS) to finance the construction of the second phase of the Arab Gas pipeline in Jordan.
EIB Vice President Philippe de Fontaine Vive signed yesterday with EGAS President Mohammed Tawila the agreement in Cairo in the presence of the Jordanian Energy Minister Azmi Khreissat and Egyptian Petroleum Minister Sameh Fahmy. The loan will finance the construction of a pipeline of 390 km, 36 inch diameter transferring Egyptian natural gas from Jordan's southern port of Aqaba to El Rehab in northern Jordan by 2006. The pipeline in Jordan is part of a massive natural gas pipeline for exporting Egyptian natural gas to Jordan, Syria, Lebanon, Turkey and Europe. |
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