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Friday, January 29, 2021
Following the late November agreement by Unión Fenosa Gas with Egyptian authorities to resolve all long-standing issues related to the Damietta LNG plant, a first test cargo is expected on February 14, according to a S&P Global Platts report.
The Damietta LNG plant has been idle since November 2012.
As part of last year’s agreement, UFG’s shareholders (50% Eni and 50% Naturgy) decided to carry out a corporate restructuring of the company whose assets will be divided between them. In particular, the participation of UFG in SEGAS, the owner and operator of the Damietta LNG plant, together with the supply contracts and liquefaction rights, will be transferred to Eni and EGAS.
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