Following the inauguration of the first phase of the Egypt-Jordan gas pipeline earlier this year, work is moving ahead on the two LNG complexes being developed on the Mediterranean coast, at Damietta and Idku. Egyptian LNG, which is responsible for the 7.2 million-tonne-a-year two-train project being developed at Idku, is preparing to sign a sales agreement in early October for the second LNG train. It is now considering its marketing options for a possible third train. Spanish Egyptian Gas Company (SEGAS) is also ahead of schedule for the more-advanced LNG terminal being developed at Damietta, which is now 63 per cent complete, with first exports due in November 2004. ‘Securing these projects has been a milestone for Egypt’s energy policy,’ says Fahmy.
Further downstream, Egyptian Petrochemicals Holding Company (ECHEM) is moving ahead with the first major projects in its $10,000 million petrochemicals masterplan, which was first unveiled at MEED’s 1st Petrochemicals Conference in Cairo in January (MEED 24:1:03).
Company formation is expected to be completed before the end of September for the most advanced of the core projects, a $196 million linear alkyl benzene complex which will be developed on the coast at Alexandria (MEED 21:3:03).
(For further highlights from the Mediterranean Gas Congress and full project details, see MEED 3:10:03, which will also include an exclusive interview with Petroleum Minister Sameh Fahmy in the Egypt Special Report.)