{"id":560268,"date":"2021-02-22T04:33:13","date_gmt":"2021-02-22T04:33:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/were-taking-big-strides-towards-our-energy-hub-ambitions\/"},"modified":"2021-02-22T04:33:13","modified_gmt":"2021-02-22T04:33:13","slug":"were-taking-big-strides-towards-our-energy-hub-ambitions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/were-taking-big-strides-towards-our-energy-hub-ambitions\/","title":{"rendered":"We\u2019re taking big strides towards our energy hub ambitions"},"content":{"rendered":"

<\/a> The Damietta LNG plant is (finally) back online after eight years of being idled<\/strong>, with two liquefied natural gas shipments making their way out of the Damietta Port yesterday, marking a key step towards our ambitions to become an energy hub and boost natgas exports to Europe. An LNG carrier from the Marshall Islands is transporting 60k tonnes of LNG from Egypt to Bangladesh, according to a cabinet statement<\/a>. A separate trial shipment is also being loaded onto a carrier owned by energy and commodities trader Vitol, and will make its way to Europe, Oil Ministry spokesperson Hamdy Abdel Aziz told state-run MENA<\/a>. Abdel Aziz did not specify how much Vitol\u2019s carrier is shipping.<\/p>\n

A QUICK REFRESHER-<\/strong> The reopening follows the settling of a dispute between Spain\u2019s Naturgy, Italy\u2019s Eni and the Egyptian government that arose years ago, in which Union Fenosa Gas (UFG) \u2014 a 50\/50 JV between both companies that owns 80% of the facility \u2014 said the government had cut off flows<\/a> to the liquefaction plant. Under the settlement<\/a>, Naturgy agreed to exit Union Fenosa Gas in return for a USD 600 mn payment and most of UFG\u2019s assets outside of Egypt. Eni will also take over the contract for the purchase of natural gas for the plant and will receive corresponding liquefaction rights.<\/p>\n

Europe could be getting even more East Med gas through our liquefaction plants thanks to a pipeline Egypt and Israel have agreed to build<\/strong> that will connect Israel\u2019s offshore Leviathan gas field to Egypt\u2019s liquefaction plants. Oil Minister Tarek El Molla and Israeli Energy Minister Yuval Steinitz agreed on the planned pipeline during a meeting yesterday as part of the EastMed Gas Forum<\/a>, according to an Oil Ministry statement<\/a>. The pipeline will help Israel ramp up its exports to Europe, Steinitz told local Israeli media, Reuters<\/a> reports. Leviathan\u2019s offshore gas field came online in 2019<\/a> and suppliesEgypt and Jordan<\/a>.<\/p>\n

Background:<\/strong> Israel\u2019s Delek Drilling, a main operator of the Leviathan gas field, had said last year<\/a> that it was mulling expanding its natural gas exports via Egypt\u2019s Idku LNG terminal or by building its own floating terminal. At the time, the dispute over the Damietta plant had not yet been resolved, leaving Idku as Egypt\u2019s only viable LNG terminal.<\/p>\n

Egypt is also set to work with Palestine to develop the Gaza Marine gas field<\/strong> under an MoU EGAS Chairman Magdy Galal signed with Palestine Investment Fund Chairman Mohammed Mustafa yesterday, according to Wafa News Agency<\/a>. Palestine is one of the founding members of the EastMed Gas Forum.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Damietta LNG plant is (finally) back online after eight years of being idled, with two liquefied natural gas shipments making their way out of the Damietta Port yesterday, marking a key step towards our ambitions to become an energy hub and boost natgas exports to Europe. An LNG carrier from the Marshall Islands is […]<\/p>\n","protected":false},"author":1,"featured_media":560269,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,89,2498,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-israel","tag-leviathan","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"3613f080-5d75-4b85-af31-1b66fcda3204","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/312.jpg","photo_position":"above","related_issue":[560263],"teaser":"","voice_url":""},"yoast_head":"\nWe\u2019re taking big strides towards our energy hub ambitions - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/were-taking-big-strides-towards-our-energy-hub-ambitions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We\u2019re taking big strides towards our energy hub ambitions\" \/>\n<meta property=\"og:description\" content=\"The Damietta LNG plant is (finally) back online after eight years of being idled, with two liquefied natural gas shipments making their way out of the Damietta Port yesterday, marking a key step towards our ambitions to become an energy hub and boost natgas exports to Europe. 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Damietta LNG in a coma to end next month: It seems possible that the plant will be making regular scheduled shipments starting from next month, as a final agreement to establish a new ownership structure for the Damietta LNG plant is due to be finalized on\u2026","rel":"","context":"In "SPEED ROUND: ENERGY"","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/495.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560428,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/a-long-hot-summer\/","url_meta":{"origin":560268,"position":1},"title":"A long, hot summer","author":"enterpriseam admin","date":"28 February 2021","format":false,"excerpt":"Don\u2019t expect exports from the newly-reopened Damietta LNG plant to ramp up until the end of the year, as increased local energy demand during the summer is likely to keep exports muted, traders and analysts tell S&P Global Platts Analytics. \"We expect the facility's exports to be limited until after\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/382.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564977,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/signed-sealed-delivered\/","url_meta":{"origin":560268,"position":2},"title":"Signed, sealed, delivered...","author":"enterpriseam admin","date":"10 March 2021","format":false,"excerpt":"The eight-year Damietta LNG plant ownership dispute is now officially over after final settlement agreements were signed, the Oil Ministry said ina statement today. Some 40 agreements were signed to settle claims between the government, state-owned EGAS, plant operator Spanish Egyptian Gas Company (Segas), and Union Fenosa Gas (UGS), the\u2026","rel":"","context":"In "SPEED ROUND: ENERGY"","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/439.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561042,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/","url_meta":{"origin":560268,"position":3},"title":"Damietta LNG plant ships first cargo to Europe","author":"enterpriseam admin","date":"23 March 2021","format":false,"excerpt":"The first Europe-bound LNG shipment from the Damietta liquefaction plant arrived in Belgium on Sunday \u2014 almost a month after the facility restarted operations and sent out trial shipments of gas following an eight-year hiatus, according to S&P Global. The cargo, which made its way out of the Damietta Port\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558441,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/egypt-could-liquefy-and-export-israeli-natgas\/","url_meta":{"origin":560268,"position":4},"title":"Egypt could liquefy and export Israeli natgas","author":"enterpriseam admin","date":"10 August 2021","format":false,"excerpt":"Damietta, Idku plants could become LNG import-and-export terminals for Israeli natgas: Oil Minister Tarek El Molla discussed with his Israeli counterpart Karine Elharrar during a phone call yesterday \u201cfuture plans\u201d to receive and liquefy Israeli natural gas at Egypt\u2019s LNG facilities (read: the Damietta and Idku liquefaction plants) before it\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/134.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567642,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/","url_meta":{"origin":560268,"position":5},"title":"Damietta LNG plant could reopen in 1Q, boosting our East Med hub ambitions","author":"enterpriseam admin","date":"2 December 2020","format":false,"excerpt":"Damietta LNG plant could reopen early next year after Eni, Naturgy seal agreement: Italian energy giant Eni has reached an agreement with the Egyptian government and its Union Fenosa Gas (UFG) partner Naturgy to finally re-open the Damietta LNG plant by the end of 1Q2021 after an eight-year hiatus, Eni\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/42.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=560268"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560268\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560269"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560268"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560268"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}