Egypt and Libya Near $1 Billion Oil Pipeline Deal to Boost Crude Exports
Egypt and Libya are reportedly close to finalizing a deal to construct an 800-kilometer oil pipeline connecting Tobruk with Alexandria. This pipeline aims to facilitate the transport of Libyan crude to Egyptian refineries, as Egypt seeks alternatives due to disruptions in its traditional Gulf supplies caused by the ongoing conflict with Iran. The project, estimated to cost over $1 billion, is currently under review for financing and implementation, with the final capacity dependent on Libya's export volumes and Egypt's refinery capabilities. Libya's crude production has reached its highest level in over a decade, producing around 1.43 million barrels per day, and the pipeline would provide a direct route for these exports, bypassing tanker shipments. 
