EGYPT GAS
November 1st, 2002
BY KEITH NUTHALLTHE EUROPEAN Investment Bank is planning to lend Egypt up to US$450 million to build a natural gas liquefaction plant, enabling the country to export a large chunk of its plentiful gas reserves. The El Behera Natural Gas Liquefaction Company plant would handle 3.6 million tonnes per year and include a tanker-loading jetty at its site at Idku, 50 km east of Alexandria. An EIB memorandum said: "The plant will enable the export of a part of the proven large Egyptian natural gas reserves.... generating substantial foreign exchange revenues for the ...
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