Cairo – Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources on Wednesday announced that a series of agreements have entered into force to reopen the Damietta liquefied natural gas (LNG) plant and settle all claims between the Egyptian National Gas Holding Company (EGAS), Union Fenosa Gas, and the Spanish Egyptian Gas Company (SEGAS).
The agreements, signed in December 2020, include resuming production at the Damietta LNG plant and enabling EGAS to boost output at the plant.
The Egyptian General Petroleum Corporation (EGPC) and EGAS will acquire 50% of the stake of SEGAS in the plant, while the Italian energy giant Eni will own the remaining 50%.
The plant, which has an annual capacity of 7.56 billion cubic metres, has been idle since November 2012.
