Egypt, France airdrop aid to Gaza amid growing humanitarian crisis, global criticism of Israel    Supply minister discusses strengthening cooperation with ITFC    Egypt launches initiative with traders, manufacturers to reduce prices of essential goods    SCZONE chief discusses strengthening maritime, logistics cooperation with Panama    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Egypt reviews health insurance funding mechanism to ensure long-term sustainability    Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Egyptian president follows up on initiatives to counter extremist thought    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Egypt will keep pushing for Gaza peace, aid: PM    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Eni seeks to export gas from Zohr through Damietta liquefaction plant in 2020
Italian company raises its stake in liquefaction plant to 50%: source
Published in Daily News Egypt on 03 - 03 - 2020

Italian Eni seeks to start exporting some of its share in the Zohr deep-water gas field in the Mediterranean through the Damietta liquefaction plant this year.
A source in the petroleum sector told Daily News Egypt that the Italian company has increased its stake in the Damietta liquefaction plant to 50% from 26%, after it acquired the shares of other partners Union Fenosa Gas and SEGAS.
Egypt's share in the liquefaction plant also rose to 50% from 48%, after a dispute settlement between Eni, Naturgy Group, Union Fenosa, and the Spanish Egyptian Gas Company (SEGAS).
A few days ago, Egypt concluded a settlement agreement and another framework agreement between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company (EGAS), Eni, Naturgy, Union Fenosa, and SEGAS for the Damietta liquefaction plant's reopening, according to the Ministry of Petroleum.
The source pointed out that Eni completed the implementation of a land pipeline from the Zohr gas treatment plant in El Gamil in Port Said to the Damietta plant, as a prelude to export gas to European markets.
The source explained that Eni agreement to develop Zohr field allows the company to export quantities of its share to global markets after obtaining the approval of the Ministry of Petroleum.
The liquefaction plant has a capacity of 7.56bn cubic meters per year, but has been idle since November 2012.
The source said Eni is working to increase the production of Zohr field gradually to about 3bn cubic feet per day this month.
Foreign partners in Egypt aim to export part of their share in gas concession areas to achieve financial gains since LNG shipments are sold according to international prices, which is higher than the price the Egyptian government pays locally.
Eni can sell gas from its Zohr field for $2.2-5.88 per cubic feet, based on the price of a barrel of oil on international markets.
The Ministry of Petroleum seeks to turn Egypt into a regional energy hub by utilising the infrastructure of pipelines and liquefaction stations, which contributes to receiving, transporting, and circulating gas both locally and globally.


Clic here to read the story from its source.