{"id":624373,"date":"2018-09-06T03:50:34","date_gmt":"2018-09-06T03:50:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/egypt-taking-steps-to-resolve-ugs-dispute-over-damietta-supply-interruptions\/"},"modified":"2018-09-06T03:50:34","modified_gmt":"2018-09-06T03:50:34","slug":"egypt-taking-steps-to-resolve-ugs-dispute-over-damietta-supply-interruptions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/egypt-taking-steps-to-resolve-ugs-dispute-over-damietta-supply-interruptions\/","title":{"rendered":"Egypt taking steps to resolve UGS dispute over Damietta supply interruptions"},"content":{"rendered":"

Egypt is taking steps to settle the USD 2 bn it has been ordered to pay Spanish-Italian JV Union Fenosa Gas (UGS) <\/strong>over gas supply interruptions at the Damietta liquefaction plant, the Oil Ministry said in a statement picked up by Reuters<\/a>. (The Oil Ministry\u2019s website was down at dispatch time.) Details on what the steps entail were not disclosed, but the statement is the first official line on the issue since the World Bank\u2019s International Centre for Settlement of Investment Disputes issued the ruling earlier this week<\/a>. Sources said the payments would be made in the form of new gas shipments. UGS \u2014 a joint venture between Spain\u2019s Naturgy and Italy\u2019s Eni \u2014 had filed the case against Egypt some years ago, complaining that the government had cut off flows to its Damietta liquefaction plant, of which it owns 80%. Sources said on Tuesday<\/a> that the government was willing to resolve the dispute, as the move could expedite the resumption of LNG exports and help put Egypt on the map as a regional energy export hub.<\/p>\n

Speaking of which, the Oil Ministry is reportedly planning to end its five-year contract for the H\u00f6egh Gallant FSRU in mid-September<\/strong> after a number of wells, including from Zohr, are connected to the grid, an EGAS source said<\/a>. The decision comes as Egypt\u2019s gas production is expected to reach 6.75 mcf\/d by then, bringing us closer to a cessation of gas import tenders. The source noted that Egypt does plan to hold on to one FSRU should the need arise to import gas. It could also be converted to a floating liquefaction and storage unit (FLSU).<\/p>\n","protected":false},"excerpt":{"rendered":"

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 time.) Details on what the […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624373","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"47b18ea0-b745-43c3-9779-7e51683524b2","order":"0","is_powered_by":true,"section_story_id":"7768b586-b40f-4f99-b296-84315aaee3dc","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624362],"teaser":"","voice_url":""},"yoast_head":"\nEgypt taking steps to resolve UGS dispute over Damietta supply interruptions - 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\/2018\/09\/06\/egypt-taking-steps-to-resolve-ugs-dispute-over-damietta-supply-interruptions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt taking steps to resolve UGS dispute over Damietta supply interruptions\" \/>\n<meta property=\"og:description\" content=\"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 time.) 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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":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":624373,"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":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":624373,"position":2},"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":624373,"position":3},"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. 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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":623337,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/eni-naturgy-jv-looking-to-re-launch-operations-at-damietta-lng-facility-in-2019\/","url_meta":{"origin":624373,"position":5},"title":"Eni-Naturgy JV looking to re-launch operations at Damietta LNG facility in 2019","author":"enterpriseam admin","date":"28 October 2018","format":false,"excerpt":"Italy\u2019s Eni and its Spanish partner Naturgy are in \u201cadvanced talks\u201d to re-launch operations at their Damietta LNG facility in 2019, Eni\u2019s CFO Massimo Mondazzi said on Friday, according to Reuters. 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624373","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=624373"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624373\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624362"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624373"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=624373"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=624373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}