Egypt and Lybia are studying co-operation between the two countries to set up joint ventures in the fields of oil and gas industries. The project includes extension of a pipeline to carry Egyptian natural gas to Libya after dedicating one-third of the Egyptian reserve for export either liquefied or through pipelines. A parallel pipeline is being considered to carry Libyan crude oil to Egypt to be refined. The Egyptian-Libyan double-line would cost about USD 300 million.
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