Report: Union Fenosa Gas in talks to resume Egypt LNG exports

Damietta LNG (Image courtesy of Union Fenosa Gas)

Union Fenosa Gas (UFG) is reportedly in talks to restart the Damietta liquefied natural gas (LNG) export plant in Egypt following the $2.01 billion arbitration award last week.

To remind, a World Bank arbitration body ordered Egypt to pay the award to UFG because of a lack of gas supply to the Damietta plant, in which the company has a majority stake.

“UFG is in conversations with Egypt to restart the plant as soon as possible,” the company told Reuters on Monday in an emailed statement.

UFG said in 2013 Egypt was restricting supplies to the plant as it diverted export supplies to its domestic market. The plant has been idle since.

UFG is a 50/50 joint venture between Spain’s Naturgy and Italy’s Eni. The company, through its 80 percent holding in its subsidiary SEGAS, operates Egypt’s liquefaction plant in Damietta. The remaining 20 percent belongs to the Egyptian state companies EGPC and EGAS.

 

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >