http://almashareq.com/en_GB/articles/cnmi_am/newsbriefs/2019/06/14/newsbrief-05

UAE-funded project to provide strategic oil reserve for Jordan

Jordanian Prime Minister Omar Razzaz on Thursday (June 13th) inaugurated the Abu Dhabi-funded strategic oil reserve facilities, designed to ensure energy self-sufficiency for the kingdom for more than one month, Jordanian media reported.

Razzaz opened the $210-million project in the Madonah area with a holding capacity of 350,000 tonnes, according to the Jordanian news agency, Petra.

The facilities, owned by the Jordan Oil Terminals Company, will effectively provide a strategic reserve of fuel for emergency cases, as well as upgrade the oil sector’s infrastructure and create job opportunities for Jordanian technicians.

The storage facilities will provide a stockpile of diesel to cover the kingdom’s demand for 34 days, gasoline for 30 days, jet fuel for 34 days and liquefied petroleum gas for 16 days, according to Petra.

Razzaz said the issue of energy has been arduous for the kingdom due to its location in a "fiery" region, citing the high costs Jordan incurred as a result of disruptions to fuel supplies from Iraq and Egypt during critical times.

He expressed gratitude to the Emirati government and people, noting that this co-operation reflects the "brotherly ties" between the two countries.

Highlighting the importance of the project, Razzaz said that the government aims to increase the strategic reserve to cover the kingdom's consumption for three months, which is important for national security.

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