Egypt’s Damietta Liquefaction Plant Agreement enters into force

Egypt’s Damietta Liquefaction Plant Agreement enters into force

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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 agreement strengthens Egypt's position as a regional center for gas circulation by increasing the capabilities of liquefying Egyptian natural gas, which exceeds domestic demand or liquefaction of gas produced by other countries, and