A source at the petroleum sector told Daily News Egypt that a settlement agreement was reached with the Spanish Union Fenosa Gas (UFG) regarding the invalidity of a judicial verdict issued by the International Centre for the Settlement of Investment Disputes (ICSID) against Egypt's Natural Gas Holding Company (EGAS), as the plant of
Damietta gradually goes back to operation.
The Egyptian contractor was a part of the consortium that completed the construction of Assiut and West
Damietta plants in the third quarter of 2015.
Orascom is part of a consortium building Assiut and West
Damietta power plants on a fast-track basis.
Address : Fourth District, Mubarak Buildings in New
Damietta City
He added that the ministry is considering allowing the
Damietta plant to export quantities of natural gas produced from Cyprus and Israel fields in the Mediterranean Sea, thus achieving economic returns in Egypt and ending arbitration disputes.
The aim of this cooperation is to transform
Damietta into an integrated and specialised city in the furniture industry, through modernizing and promoting the industry, in accordance with the latest international developments.
Client Name :
Damietta Governorate, the General Secretariat
The Ministry of Petroleum recently agreed with the foreign partners in the
Damietta liquefied natural gas (LNG) plant to gradually restart the plant and export quantities of natural gas produced from the Zohr field in the coming year, after a six year suspension since July 2012.
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Damietta governorate:
Damietta governorate is located in the extreme northeast of Egypt in the delta region; it has five administrative districts.