LNG

A South Korean trade agreement with the United Arab Emirates has been signed in Seoul and included a future order for at least six LNG carriers from the UAE and a pledge of $30 billion of investments in Korean industries.

Italian energy company Eni has agreed to sell a stake for $934 million to the United Arab Emirates-based Mubadala Petroleum in the prolific Shorouk concession offshore Egypt containing the huge Zohr natural gas field that will enable the Egyptians to halt LNG imports as most of their domestic gas requirements will be met.