Iraq and Egypt Announce Energy Cooperation

By Simon Kent.

Iraq and Egypt are working on a plan to export Iraqi oil through Jordan to Egypt, for refining in Egypt and re-sale to the European market, Reuters reports.

The three countries have already signed an agreement for this plan, part of Egypt's strategy to regain a degree of self suffiency for domestic energy needs by the early part of the next decade. The oil would likely flow through the Arab Gulf Pipeline which links Jordan and Egypt.

Egypt has recently enjoyed something of an energy Renaissance, with BP looking to start production at a field in Alexandria in 2017 and ENI bringing the Zohr gas field on line next year.

Source: Reuters.