Amman discuss $1 billion gas project
The Egyptian-Jordanian Higher Committee recently convened in Amman under the auspices of the countries’ prime ministers, to discuss the joint gas shipment project between Egypt, Jordan, Lebanon, Syria and Turkey.
The project would establish two joint companies, which would build pipelines to transfer gas from Egypt to Jordan, Syria and Lebanon for local sale, and later on to Turkey and other European countries.
Total cost of the program is estimated at approximately $1 billion, according to Al-Hayat daily.
The first company, The Orient, will build a 400 km long undersea gas pipeline across the Mediterranean to transport natural gas from the Egyptian coastal city of El Arish to the Lebanese port of Tripoli at the cost of $800 million.
A second pipeline costing $200 million will be constructed between Tripoli and Syria, and eventually on to Turkey and Europe by the second firm, the Arab Company.
The natural gas to be transported is considered more efficient, cleaner to burn, and 40 percent less expensive than heavy fuel oil. –(MENA Report)
© 2001 Mena Report (www.menareport.com)