Cairo’s gas hub dreams have come to a halt, at least for now. On 24 April both state gas firm Egas and Italian firm Eni announced that a deal agreed less than two months earlier for the restart of the 5mn t/y Segas LNG export terminal at Damietta had expired.
“In February we reached an agreement with Naturgy and Egas for the restart of the Damietta liquefaction plant, the settlement of outstanding disputes and some M&A transactions. The overall agreement was subject to a number of conditions, some of which have not been fulfilled in the agreed terms,” an Eni spokesman tells MEES. (CONTINUED - 865 WORDS)