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Italy’s oil giant Eni is negotiating to build a Liquefied Natural Gas (LNG) facility in the Egyptian Nile Delta city of Damietta, its chief executive announced on Friday.
The LNG facility is expected to be operated this year, Claudio Descalzi said.
In 2018, Eni started its talks with Spanish partner Naturgy to re-launch operations at Damietta LNG facility within the current year, according to Eni’s CFO Massimo Mondazzi.
The Egyptian government earlier signed an agreement with foreign partners of the project, as the facility is a joint venture between Union Fenosa Gas and Eni.
The ownership of the Damietta LNG facility is 26 percent for Eni and 26 percent for Union Fenosa and Spanish Egyptian Gas Co. (Segas) as well as 48 percent for Egypt.
