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Egypt's Sidi Kerir terminal can be gate for Aramco's crude oil to Europe - official

Saudi Arabia's Aramco can store its petroleum products in Egypt's Ain Sokhna and Sidi Kerir that can be a base for exporting Saudi products to nearby markets, the CEO of Aramco Trading Company said.

Aramco can pump more oil through SUMED pipelines which links Ain Sukhna on the Red Sea to Sidi Kerir on the Mediterranean so that Sidi Kerir terminal can be a key center for marketing Saudi Aramco crude oil in Europe, Ibrahim Al-Buainain said.

During a meeting on Tuesday with Egypt's Petroleum Minister Tareq Mulla, Al-Buainain said there are great opportunity for promoting cooperation between Egypt and Saudi Arabia's Aramco trading arm ATC.

The talks also tackled means of promoting cooperation and realizing sustainable trade cooperation as well as furthering ongoing cooperation under contracts signed between Saudi Aramco and Egypt-based Middle East Oil Refinery (MIDOR) to refine cargoes of crude oil that Aramco extracts at Midor’s labs.

In a statement on Tuesday, Mulla said the talks addressed ways of fostering  cooperation in the petrochemical trade domain, referring to Egypt's distinguished location and promising market.

He highlighted Egypt's development of the infrastructure of SUMED in addition to several projects being implemented within the framework of efforts to transfer Egypt into a regional trade center for natural gas and oil. 

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