Eni in talks to open LNG unit in Egypt’s Damietta

Eni is in talks with partner Naturgy over re-opening of their facility for liquefying natural gas in Damietta, Egypt, Reuters reported.

The negotiations are at an advanced stage and the plant is expected to begin working again in 2019.

The Italian oil and gas giant said in August that it has obtained a new offshore exploration license in Egypt.

The Rome-based firm is planning to drill an exploratory well in the second half of 2018, Reuters reported.

Eni holds an 85% stake in its joint concession with state-run Egyptian Natural Gas Holding Company (EGAS), while Tharwa Petroleum owns a 15% stake.

In May, Eni unveiled a new oil discovery on the A-2X exploration prospect at its South West Meleiha concession in Egypt’s Western Desert.