• Short Summary

    Egypt's Prime Minister, Mamdouh Salem inaugurated trials on a new 500 million dollar pipeline which by-passes the Suez Canal on Wednesday (15 December).

  • Description

    Egypt's Prime Minister, Mamdouh Salem inaugurated trials on a new 500 million dollar pipeline which by-passes the Suez Canal on Wednesday (15 December).

    SYNOPSIS: The Prime Minister is seen here on the right, with the Egyptian Oil Minister, Dr. Ezzeldine Helal. The venture is a combined effort by Egypt, Saudi Arabia, Kuwait, the United Emirates and Qatar. It was built by an Italian commercial consortium with technical and administrative supervision by the Bechtel company of the United States.

    The pipeline's due to start commercial operation at the end of January next year, but officials stress that it's not meant to compete with the Suez canal. The line will service tankers too big to cross the canal. An annual capacity of 80 million tons of crude oil is expected to be handled once the pipeline's in full operation. Agreements have already been reached with the American oil companies Exxon and Mobil to pump oil to the Mediterranean.

    Current estimates show that when the pipeline's fully operative, Egypt could receive between 60 and 70 million dollars a year in revenue from it. This sum would come from the country's share of net profits and royalties charged because the pipeline carries oil across Egyptian territory. A company named SUMED was set up to build the line and Egypt also owns fifty percent of that.

    The pipeline runs for 200 miles (320 kms) from just south of the Suez township to just west of Alexandria. There will eventually be 12 storage tanks at each end and the system will be able to handled three types of crude oil.

  • Tags

  • Data

    Film ID:
    VLVAC2QASFQP3IIATJ30IZMX57OQC
    Media URN:
    VLVAC2QASFQP3IIATJ30IZMX57OQC
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    16/12/1976
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:41:00
    Time in/Out:
    /
    Canister:
    N/A

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