The Petroleum Projects and Technical Consultations Company “Petrojet,” affiliated with the Egyptian petroleum sector, is close to completing the construction of a new project for producing naphtha and liquefied petroleum gas (LPG) in the Suez area by the fourth quarter of 2024.

The project’s implementation, which belongs to “Nasr Petroleum Company,” has exceeded 95% completion as of this August, with the project expected to reach 100% completion by the last quarter of this year, followed by the start of trial operations.

The project’s targeted production capacity is around 340,000 tons annually, which will be fully operational with the final commencement of the project.

It is expected that the naphtha and LPG production projects will enhance the local market’s supply of essential petroleum products and reduce the volume of imports from abroad, in line with the Egyptian government’s policies aimed at reducing the fuel import bill starting in 2024.

“Petrojet” has undertaken the construction, supply, and implementation of electrical and instrumentation works for the project, with most of the project’s equipment being manufactured in Petrojet’s workshops.

“Nasr Petroleum Company” is responsible for meeting a portion of the local market’s needs for high-value petroleum products, including naphtha, diesel, fuel oil, kerosene, and LPG, through the company’s existing units, to meet the country’s fuel demands and reduce the import bill from abroad.

Egyptian refining companies are responsible for refining crude oil on behalf of the Egyptian General Petroleum Corporation (EGPC) in exchange for a refining fee paid by the EGPC. These companies contribute to supplying petroleum products to the local market and exporting any surplus.