Italian firm Eni, the number one producer of gas in Egypt, says it has reached an amicable agreement with state firms EGPC and EGAS for the restart of the Segas 5mn t/y Damietta LNG export plant by June this year. The plant has been mothballed since 2012 when Egypt rerouted all of its gas to the domestic market in the wake of a supply deficit.
In September 2018 the World Bank’s International Center for Settlement of Investment Disputes ordered Egypt to pay the operator Union Fenosa Gas, a 50:50 JV of Eni and Spain’s Naturgy, $2bn in damages for unilaterally halting gas supplies. (CONTINUED - 810 WORDS)
