{"id":599834,"date":"2019-01-13T03:37:09","date_gmt":"2019-01-13T03:37:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/"},"modified":"2019-01-13T03:37:09","modified_gmt":"2019-01-13T03:37:09","slug":"egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/","title":{"rendered":"Egypt in talks with UGS to drop USD 2 bn arbitration claim over Damietta liquefaction plant"},"content":{"rendered":"

Egypt is in talks with Spanish-Italian JV Union Fenosa Gas (UGS)<\/b> in a bid to have the European outfit drop its arbitration claim over gas supply interruptions at the Damietta liquefaction plant, an industry source<\/a> tells the domestic press. The World Bank\u2019s International Centre for Settlement of Investment Disputes ordered in September<\/a> that Egypt pay USD 2 bn to UGS in the case, which UGS filed after the state cut off flows to its Damietta liquefaction plant. UGS owns 80% of the facility, while state-owned EGPC and EGAS together own the remaining 20%. According to the sources, the Oil Ministry is looking to hammer out an agreement that would see Egypt gradually relaunch operations at the Damietta facility and compensate UGS for its losses through EGAS\u2019 profits from the facility\u2019s operations. Naturgy and Eni are in \u201cadvanced talks\u201d over the relaunch of operations, Eni CFO Massimo Mondazzi said back in October<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 in September that Egypt pay […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[266,7135,557,197,72,11320,3692,371,2380,4272],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599834","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-damietta-lng-plant","tag-egas","tag-egyptian-general-petroleum-corporation","tag-eni","tag-enterpriseam","tag-international-centre-for-settlement-of-investment-disputes","tag-naturgy","tag-oil-ministry","tag-speed-round","tag-union-fenosa-gas","wpautop","entry"],"acf":{"mongo_id":"8abe7446-fede-422a-aad8-88d3a4d5b61a","is_powered_by":true,"section_story_id":"67bf900a-8bb2-42a1-a077-77b246e74c92","story_type":"1","photo_url":"","photo_position":"above","related_issue":[599822],"teaser":"","voice_url":""},"yoast_head":"\nEgypt in talks with UGS to drop USD 2 bn arbitration claim over Damietta liquefaction plant - 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\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt in talks with UGS to drop USD 2 bn arbitration claim over Damietta liquefaction plant\" \/>\n<meta property=\"og:description\" content=\"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 in September that Egypt pay […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-13T03:37:09+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt in talks with UGS to drop USD 2 bn arbitration claim over Damietta liquefaction plant\",\"datePublished\":\"2019-01-13T03:37:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/\"},\"wordCount\":165,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Damietta LNG plant\",\"EGAS\",\"Egyptian General Petroleum Corporation\",\"Eni\",\"EnterpriseAM\",\"International Centre for Settlement of Investment Disputes\",\"Naturgy\",\"Oil Ministry\",\"SPEED ROUND\",\"Union Fenosa Gas\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/egypt-in-talks-with-ugs-to-drop-usd-2-bn-arbitration-claim-over-damietta-liquefaction-plant\/\",\"name\":\"Egypt in talks with UGS to drop USD 2 bn arbitration claim over Damietta liquefaction plant - 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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":624269,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/arbitrator-orders-egypt-to-pay-usd-2-bn-to-union-fenosa-gas-over-natural-gas-supply-cut-to-damietta-plant\/","url_meta":{"origin":599834,"position":1},"title":"Arbitrator orders Egypt to pay USD 2 bn to Union Fenosa Gas over natural gas supply cut to Damietta plant","author":"enterpriseam admin","date":"4 September 2018","format":false,"excerpt":"Arbitrator orders Egypt to pay USD 2 bn in settlements to UGS over cut of natural gas supply to Damietta plant: The World Bank\u2019s International Centre for Settlement of Investment Disputes ordered Egypt to pay USD 2 bn in settlements yesterday to Spanish-Italian JV Union Fenosa Gas (UGS) over a\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":601041,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/18\/damietta-liquefaction-plant-to-export-c-550-mn-cfd-of-natural-gas-by-april\/","url_meta":{"origin":599834,"position":2},"title":"Damietta liquefaction plant to export c.550 mn cfd of natural gas by April","author":"enterpriseam admin","date":"18 February 2019","format":false,"excerpt":"Damietta LNG plant to reopen in April after six-year hiatus: TheDamietta liquefaction plant will reopen in April and export around 550 mn cfd of natural gas following a six-year hiatus, an oil ministry source told the domestic press. The potential resumption of exports comes as plant operator Union Fenosa Gas\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":624324,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/govt-hints-at-willingness-to-settle-on-union-fenosa-arbitration-ruling\/","url_meta":{"origin":599834,"position":3},"title":"Gov\u2019t hints at willingness to settle on Union Fenosa arbitration ruling","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"Gov\u2019t hints at willingness to settle on Union Fenosa arbitration ruling: It is the general policy of the government, and the Oil Ministry specifically, to seek a settlement in international arbitration cases, an Oil Ministry source told Al Mal. His statements are the first we\u2019ve heard since news broke that\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":599834,"position":4},"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":564977,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/signed-sealed-delivered\/","url_meta":{"origin":599834,"position":5},"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. 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