Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail announced on Sunday that the oil sector will launch a number of projects in the economic zone, south of the New Suez Canal, Al-Bawaba News reported. "Several refining and petrochemical projects will be launched," Ismail said, signaling to the new projects by the Sumed company in the Gulf of Suez and other petroleum projects at Ain Sokhna port. The minister asserted that due to the expected increase of trade and transport of crude oil, petroleum products and transport of natural gas, additional projects will be implemented to increase the storage capacities and increase Egypt's share of bunkering which will bring huge revenues and attract new investment projects. Ismail stressed on the ability of the oil sector to provide the needs of the project within the forthcoming implementation of the Suez Canal development projects, especially after the arrival of the second gas liquefying ship next September which will be allocated to provide the needs of industry.
