Egypt to Export 550 mmscf/d of Gas via Damietta Plant in April

The Egyptian government agreed with its foreign partners in the Damietta Liquefaction plant to start exporting 550 million standard cubic feet per day (mmscf/d) of gas through the plant by April 2019, a source at the oil and gas sector told Al Borsa News.
The government agreed with Union Fenosa to drop the Arbitration ruling of the International Center for Settlement of Investment Disputes (ICSID) against the Egyptian Natural Holding Company (EGAS) as the plant gradually starts operating.
The Ministry of Petroleum and Mineral Resources (MoP) agreed with its foreign partners to compensate for the plant’s halting period by deducting amounts from EGAS’ profits from the plants re-operations, the source explained.
The Damietta plant has been halted for six years.