Release date: 19 December 2003
Promoter – Financial Intermediary
EPEG consortium made up of various companies from the Egyptian General Petroleum Company (EGPC) group, EGAS (Egyptian Natural Gas Holding Company), PETROJET (Petroleum Project and Technical Consultations Company), ENPPI (Engineering for the Petroleum and Process Industries) and GASCO (Egyptian Natural Gas Company).Location
Description
The present project comprises the second stage of the Arab pipeline, involving the construction and operation of the Jordanian section of this gas transmission system that will transport natural gas originating from Egyptian production fields (mainly Mediterranean) to industrial consumers and power plants at Aqaba, Amman, Rehab and As Samra in Jordan.
Objectives
For Egypt, increased exploitation of substantial gas reserves will provide the country with a new source of export revenue and economic value added. In addition to the direct impact of the investments, the project also has the effect of establishing a new gas market in the region, which would be expected to promote industrial activity and offers the possibility to extend supplies to other countries in the future.
Comments
Oil and Gas.
Sector(s)
Proposed EIB finance (Approximate amount)
up to EUR 100 m (EUROMED II).
Total cost (Approximate amount)
Estimated at USD 264 m (EUR 226 m).
Environmental aspects
The environmental impact of such a project is likely to be limited to mainly temporary disturbances during construction, which will have to be mitigated by appropriate working procedures and by the appropriate reinstatement of the rights of way concerned. Public consultation will be carried out, as would be required within the European Union, by the Royal Scientific Society of Jordan.
Procurement
The call for tender was advertised by the Jordanian Ministry of Energy and Mineral Resources in regional and international newspapers in September 2001 as well as on the United Nations’ web site.
Status
Signed - 5/06/2004
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).