LNG

Italian energy company Eni and Spanish partner Naturgy Energy Group are in talks to reopen the Egyptian Damietta LNG export plant near the East Mediterranean port of Alexandria, now that an arbitration dispute has been settled.

Egypt is being obliged to pay over US$2 billion plus interest and legal costs after losing an international tribunal dispute to Union Fenosa Gas for the unilateral interruption of gas supply to UFG’s liquefaction plant in Damietta, near the Mediterranean port of Alexandria.