The World Refining Association holds the Inaugural Egypt Downstream Summit
Under the Auspices of the Ministry of Petroleum and Mineral Resources, The World Refining Association (WRA) inaugurated its first Downstream Summit and Exhibition in Egypt bringing together key stakeholders and industry experts together to discuss innovative ideas on how Egypt can realise its downstream potential.
The World Refining Association launched yesterday its first Egypt Downstream Summit & Exhibition that focused on attracting investment and highlighting the latest projects and opportunities for Egypt’s refining and petrochemical sectors.
Senior representatives from EGPC, Midor, EGAS, Nasr Petroleum, Asiut Oil Refining Company, Cairo Oil Refining Company, Carbon Holdings, Axens, UOP, thyssenkrupp and many more to discuss the potential of the downstream industry in Egypt.
Mohamed Al Masry, CEO, EGPC, opened the Summit by talking about the government’s vision to adopt an integrated strategy across the petroleum sector in Egypt and the important role the downstream industry has to play in this. This was further emphasized by Amr Mostafa, Deputy CEO Operations who delivered a keynote presentation highlighting the investments being made by EGPC into the downstream industry in particular the upgrading and modernisation of many of the country’s refineries.
Over the two days, the global perspectives on the downstream industry, including the impact of low oil prices generating a capex cut of 15% in 2015 were discussed. Louis Besland, from AlixPartners, the Summit’s Chair, stated that the petrochemicals industry had a strong demand and needed extra capacity; whereas the refining industry had slow growth and was over capacity. Nonetheless, Louis was very optimistic for the downstream industry and pointed out multiple times some of the advantages refiners and petrochemical producers gain in a low oil price environment.
The main objective of the Egypt Downstream Summit has been to stimulate discussion around how Egypt can realise its downstream potential whilst looking into practical solutions and means of achieving such solutions for generations to come.
Besland also stated how “Downstream development is strategic for Egypt’s future economic growth” and that to remain competitive in the downstream industry Egypt was to “plan an infrastructure to capture synergies and facilitate import/export.”
Hannah Wharrier, Managing Director of the World Refining Association said of the event: “By bringing the stakeholders from the refining and petrochemical industries in Egypt, together with the international downstream community, we hope that the next 2 days will play a part in unfolding the potential of the downstream industry this country, and take steps towards understanding what needs to happen to maximise the added value of Egypt’s natural resources.”
The Summit gathered over 230 conference delegates and 330 visitors to the exhibition. With delegations from 19 countries, including India, Azerbaijan, USA, France, UK, Germany, Belgium, Italy, and the UAE, the Summit provided a platform for discussions on how to bring the industry forward.
Given the growing need for diversification and modernization of the region’s industrial base, thyssenkrup, a leading partner for the engineering, construction and service of all industrial plants and systems, sees a huge potential especially in the area of energy efficiency programs and downstream value chains. With over 70 new employees – a raise of more than 40% in the workforce in Egypt alone – thyssenkrupp is the only company in the country to act as a full service EPC contractor with a local office for large scale industrial plants such as fertilizer complexes, refineries and petrochemical as well as cement plants. thyssenkrupp’s plant engineering operations in Egypt represent the company’s largest resources in MENA and serves as an integrated EPC hub for the entire region.
Thore Lohmann, CEO of thyssenkrupp Industrial Solutions in Egypt: “Our partnership with companies in Egypt is built on a longstanding tradition of working together through thick and thin. With our reliable, highly efficient technologies we are profiting from infrastructure expansion in many growth regions and at the same time contributing to the conservation of valuable resources to secure our clients success in their challenging future markets.”
Conference presentations covered a variety of topics, including EGPC’s plan to expand the refining sector, a keynote case study on the Midor refinery, strategies and challenges related to downstream expansion, the plan for Egypt’s gas and how this will be used for petrochemical feedstocks and the drivers for investing in Egypt’s downstream sectors.
(World Refining Association Press Release)