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وكالة صدى نيوز
Egypt and Libya plan $1B oil pipeline
The article discusses a proposed oil pipeline project between Libya and Egypt valued at over one billion dollars. The pipeline would connect the Libyan city of Tobruk to Alexandria, with the aim of transporting Libyan crude oil to Egyptian refineries. The project seeks to strengthen energy cooperation, allowing Libya to increase its production and export surplus oil, while Egypt would benefit by supplying locally produced petroleum products to compensate for disruptions in oil supplies from other sources—especially given the military escalation threatening global oil supplies. It is expected that this project will help reduce dependence on the Strait of Hormuz and ensure stable energy supplies between the two countries amid regional tensions. This development comes after Libya recorded its highest oil production level since 2013, currently around 1.48 million barrels per day.
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