Explainer
Egypt, Libya begin studying $1B oil pipeline: What to know
The two countries are nearing the launch of a joint project to build a pipeline linking the Egyptian city of Alexandria with the Libyan city of Tobruk, Asharq Bloomberg reported.
Egypt and Libya have begun studying a $1 billion oil pipeline that would connect the two North African countries and transport Libyan crude to Egypt for refining.
What happened: The two countries are exploring financing options for a joint project to build an 800-kilometer (500-mile) pipeline linking the Egyptian city of Alexandria with the Libyan city of Tobruk Asharq Bloomberg reported, citing an unnamed government source.
The pipeline would primarily transport Libyan crude to refineries in Alexandria.
The governments are also working on an implementation plan and determining the pipeline’s final capacity, taking into account Libya’s export capacity and the capabilities of Egyptian refineries, the official said.
