CAIRO – 10 March 2021: The Egyptian Ministry of Petroleum and Mineral Resources announced the entry into force of the agreement related to the Damietta Liquefaction Plant, and the settlement of all claims between the Egyptian Natural Gas Holding Company (EGAS), Union Fenosa Gas Company, and the Spanish-Egyptian Gas Company. The ministry clarified in a statement, Wednesday, that the agreement signed in December 2020 includes resuming production at Damietta's natural gas liquefaction plant, and increasing EGAS' capacity to liquefy the plant. It added that it also includes the acquisition by EGAS and the Egyptian General Petroleum Corporation of 50 percent of the Spanish-Egyptian Gas Company, while Eni owns the remaining 50 percent. The Damietta Liquefaction Plant produces 7.56 billion cubic meters of gas annually, and in late February the Italian company (Eni) announced the export of the first shipment of liquefied natural gas (LNF) from the Damietta plant, which is the first shipment produced by the plant since it stopped in 2012. Earlier, the Egyptian government signed an agreement with the foreign partners of the project, as the plant is a joint venture between Union Fenosa Gas and the Italian Company Eni.

Source: Egypt Today March 10, 2021 12:00 UTC