Eni to Restart Liquefied Natural Gas Plant in Damietta in Egypt

Eni has signed a series of agreements with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding
Eni to Restart Liquefied Natural Gas Plant in Damietta in Egypt
Damietta LNGMechademy

Eni has signed a series of agreements with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company and the Spanish company Naturgy, which pave the way for the restart of the Damietta liquefaction plant in Egypt by the first quarter of 2021, the amicable settlement of the pending disputes of Union Fenosa Gas and SEGAS with EGAS and ARE and the subsequent corporate restructuring of Union Fenosa Gas itself, whose assets will be shared between the partners Eni and Naturgy.

The liquefaction plant's owner is the company SEGAS, which is 40% owned by Eni through Union Fenosa Gas, 50% Eni and 50% Naturgy. The plant has a capacity of 7.56 billion cubic meters per year, but has been idle since November 2012.

The operation, subject to the authorization of the European authorities and subject to the fulfilment of certain conditions precedent, allows to strengthen the presence of Eni in the Eastern Mediterranean, a key region for the supply of natural gas, an important resource for the energy transition.

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