Egypt’s exports of LNG are set to average 700mn cfd for June-August, up from the 1Q average of 560mn cfd, and the highest level since late 2012.
All current exports are from the Shell-operated 7.2mn t/y (1.1bn cfd) ELNG terminal at Idku. Egypt’s other LNG export terminal, 5mn t/y Damietta, remains mothballed. Operator Eni and Spanish partner Union Fenosa Gas (UFG) remain in negotiations with Cairo to restart the plant, but have yet to strike a deal following an arbitration ruling that awarded the partners $2bn in damages after Egypt halted gas supplies to the plant in 2012. Cairo is angling for Eni to sell gas to Egypt at a discounted price as a quid pro quo for ponying up the $2bn, MEES understands. (CONTINUED - 221 WORDS)