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عين ليبيا
Oil project links Tobruk and Alexandria
Egypt and Libya are moving toward launching a joint project to build an 800-kilometer pipeline connecting the Libyan city of Tobruk to the Egyptian port of Alexandria. The goal is to transport Libyan crude oil to Egyptian refineries. The total cost is estimated to exceed one billion dollars. The project aims to enable Egypt to benefit from Libyan oil to meet its domestic needs and supply the market, while Libya uses its surplus oil production to boost exports or fulfill its fuel requirements. The two sides are currently negotiating on project financing, volumes, and capacity, amid Libya’s increasing oil production, which has reached approximately 1.48 million barrels per day—its highest level since 2013—with aspirations to reach 1.5 million barrels daily. The project seeks to strengthen cooperation in the energy sector and provide stable supplies for both parties, especially in light of global challenges related to regional tensions and their impact on oil markets.
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