{"id":564977,"date":"2021-03-10T13:56:51","date_gmt":"2021-03-10T13:56:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/signed-sealed-delivered\/"},"modified":"2021-03-10T13:56:51","modified_gmt":"2021-03-10T13:56:51","slug":"signed-sealed-delivered","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/signed-sealed-delivered\/","title":{"rendered":"Signed, sealed, delivered..."},"content":{"rendered":"

<\/a> The eight-year Damietta LNG plant ownership dispute is now officially over <\/strong>after final settlement agreements were signed, the Oil Ministry said ina statement today<\/a>. 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 JV between Naturgy and Eni, the statement said.<\/p>\n

So who owns what now? <\/strong>Naturgy reached an agreement<\/a> with Eni to exit UGS and redistribute ownership between EGAS and the EGPC, who will hold a combined 50%, while Eni holds the remaining 50%, the ministry said.<\/p>\n

The plant already restarted production <\/strong>last month<\/a><\/strong> and loaded two trial shipments<\/a> to China and Bangladesh. Oil Ministry spokesperson Hamdy Abdel Aziz previously told us that the final agreement to end the dispute and establish the new ownership structure marks the plant\u2019s transition from last month\u2019s trial run. The plant\u2019s resumption is a key step towards our ambitions to become an energy hub and boost natgas exports to Europe.<\/p>\n

Origins of the dispute: <\/strong>UGS filed a case in 2014 at the World Bank\u2019s International Centre for Settlement of Investment Disputes over a disruption to gas supplies in 2012, and the arbitrator ordered Egypt to pay USD 2 bn in settlements<\/a> to UGS in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 JV between Naturgy and Eni, […]<\/p>\n","protected":false},"author":1,"featured_media":564978,"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":[10061],"tags":[266,957,93,633],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-energy","tag-damietta-lng-plant","tag-dispute-watch","tag-energy","tag-enterprisepm","wpautop","entry"],"acf":{"mongo_id":"784d29e8-b9ab-4b16-bdc4-20b5d110a590","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/439.jpg","photo_position":"above","related_issue":[564972],"teaser":"","voice_url":""},"yoast_head":"\nSigned, sealed, delivered... - 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\/03\/10\/signed-sealed-delivered\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Signed, sealed, delivered...\" \/>\n<meta property=\"og:description\" content=\"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. 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The World Bank\u2019s International Centre for Settlement of Investment Disputes had ordered Egypt to pay USD 2 bn in\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":599834,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/","url_meta":{"origin":564977,"position":1},"title":"Egypt in talks with UGS to drop USD 2 bn arbitration claim over Damietta liquefaction plant","author":"enterpriseam admin","date":"13 January 2019","format":false,"excerpt":"Egypt is in talks with Spanish-Italian JV Union Fenosa Gas (UGS) in a bid to have the European outfit drop its arbitration claim over gas supply interruptions at the Damietta liquefaction plant, an industry source tells the domestic press. The World Bank\u2019s International Centre for Settlement of Investment Disputes ordered\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621355,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/06\/oil-ministry-is-in-talks-with-ugs-to-reduce-egypts-usd-2-bn-settlement-payment-over-damietta-gas-supply-interruptions\/","url_meta":{"origin":564977,"position":2},"title":"Oil Ministry is in talks with UGS to reduce Egypt\u2019s USD 2 bn settlement payment over Damietta gas supply interruptions","author":"enterpriseam admin","date":"6 November 2018","format":false,"excerpt":"The Oil Ministry is in talks with Spanish-Italian JV Union Fenosa Gas (UGS) to reduce a USD 2 bn settlement it has been ordered to pay over gas supply interruptions at the Damietta liquefaction plant, an unnamed ministry source said, according to Al Shorouk. According to the source, the ministry\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624373,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/egypt-taking-steps-to-resolve-ugs-dispute-over-damietta-supply-interruptions\/","url_meta":{"origin":564977,"position":3},"title":"Egypt taking steps to resolve UGS dispute over Damietta supply interruptions","author":"enterpriseam admin","date":"6 September 2018","format":false,"excerpt":"Egypt is taking steps to settle the USD 2 bn it has been ordered to pay Spanish-Italian JV Union Fenosa Gas (UGS) over gas supply interruptions at the Damietta liquefaction plant, the Oil Ministry said in a statement picked up by Reuters. (The Oil Ministry\u2019s website was down at dispatch\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567858,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/damietta-lng-exports-could-be-ready-by-1q2021\/","url_meta":{"origin":564977,"position":4},"title":"Damietta LNG exports could be ready by 1Q2021","author":"enterpriseam admin","date":"9 December 2020","format":false,"excerpt":"We could be seeing our first LNG exports out of Damietta by 1Q2021, soon after Eni and its state-owned partners the Egyptian Natural Gas Holding Company (EGAS) and the Egyptian General Petroleum Company (EGPC) reopen the long-dormant terminal, Youm7 reports, citing unnamed officials in the oil industry. An agreement reached\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\/174.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564726,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/project-bring-damietta-lng-back-to-life-to-fully-ratchet-up-on-15-march\/","url_meta":{"origin":564977,"position":5},"title":"Project \u201cbring Damietta LNG back to life\u201d to fully ratchet up on 15 March","author":"enterpriseam admin","date":"23 February 2021","format":false,"excerpt":"EXCLUSIVE- Dispute that put 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564977","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=564977"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564977\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564978"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564977"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564977"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}