{"id":639626,"date":"2024-08-12T00:00:00","date_gmt":"2024-08-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/big-plans-ahead-for-the-countrys-lng-exporting-infrastructure\/"},"modified":"2024-08-12T00:00:00","modified_gmt":"2024-08-12T00:00:00","slug":"big-plans-ahead-for-the-countrys-lng-exporting-infrastructure","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/big-plans-ahead-for-the-countrys-lng-exporting-infrastructure\/","title":{"rendered":"Big plans ahead for the country\u2019s LNG exporting infrastructure"},"content":{"rendered":"

Good afternoon, friends. <\/strong>Energy news is once again the talk of the local business press today for the second day in a row, while further afield, the international business press isn\u2019t quite sure what to focus on.<\/p>\n

\n

THE BIG STORY TODAY<\/p>\n

Eni to set up<\/strong> a fixed regasification unit in Damietta:<\/strong> The Madbouly government is in talks with Italian energy giant Eni to build a new onshore regasification unit with an investment cost of around USD 150 mn, a government official told Enterprise.<\/p>\n

The nitty gritty:<\/strong> The unit will be built on land adjacent to the Damietta LNG facility \u2014 owned by Eni and the Egyptian Natural Gas Holding Company (EGAS) \u2014 to receive LNG shipments and regasify them, according to the source. The main objective is to bridge the existing gap between local consumption and domestic gas production and is a signal we may not be weaning ourselves off LNG imports anytime soon.<\/p>\n

\n

THE BIG STORY ABROAD<\/p>\n

In a mostly quiet day for international business news, our part of the world is once again<\/strong> catching the attention of the int\u2019l press:<\/strong> More US fighter jets and navy warships will soon be headed toward our corner of the world after US Secretary of Defense Lloyd Austin ordered<\/a> a strike group to speed up its deployment to the MENA region, following a call with his Israeli counterpart Yoav Galant. Austin also announced that a guided missile submarine would be deploying with the strike group \u2014 a rare admission, given the secrecy that usually surrounds submarine deployments. <\/p>\n

Fear of escalation remains high as ceasefire talks sputter: <\/strong>The announcement comes as the region prepares for a retaliatory Iranian strike on Israel in response to the 31 July assassination of Hamas political leader Ismail Haniyeh in Tehran, alongside continued fears of escalation between Hezbollah and Israel following Israel\u2019s killing of the group\u2019s senior military commander Fuad Shukr. It also follows indications Sunday that Hamas may opt to sit out upcoming ceasefire negotiations with Israel set to begin 15 August, with the group arguing that Israel\u2019s constant shifting of the goal posts during talks have shown that it is not serious about securing a ceasefire. <\/p>\n

\n
\n
\n
\n

Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n