Eni, Egyptian Officials Sign El-Bougaz, Damietta LNG Deals

Eni
|


Meeting Sunday in Cairo, Eni CEO Paolo Scaroni signed a new exploration concession agreement with Egyptian Minister of Petroleum Sameh Fahmi. The deal corresponds to the offshore El-Bougaz block in the Mediterranean Sea.

Eni also announced that the framework agreement for expanding the Damietta gas liquefaction plant has been signed. The construction of a second train at the facility, located northwest of Port Said, will pave the way for future exploration and development of new fields in Egypt that will serve domestic and international markets, the company noted. In addition, the expansion is expected to boost new exploration and development activities related to the Nile Delta deepwater fields to produce more gas in Egypt.

The second train at Damietta will have a treatment capacity of 7.6 billion cubic meters of gas per year for 20 years, doubling the capacity of the current plant. Eni predicts that Damietta will increasingly serve as the Mediterranean basin’s gas hub, representing a significant step toward diversifying gas supply sources.

The facility will be expanded under the auspices of a partnership of Eni, Union Fenosa, SEGAS (Spanish Egyptian Gas Co.), BP, Egas, and Egyptian General Petroleum Corp.

RELATED COMPANIES