Egypt planned to import gas from Israel has been a fantastic planning stage but need more additional steps before the import can be initiated, stated by Tarek El Molla, Egyptian Petroleum Minister on Monday.
Countries that associated with Egypt import plan has agreed and already given their approval, so far we see no problem in this regard. While this was a multilateral agreement, especially a gas and pipeline deal, so it takes more time to take care of, said Molla.
EMG (East Mediterranian Gas) will provide the gas via an undersea pipeline with $15 billion export agreement in 2018, the pipeline operator also has agreed on Israel's EAPC (Europe Asia Pipeline Company) terminal equipment usage which was the last obstacle before conducting the export operations, said EMG.
Egypt's LNG Damietta plant will resume activities as planned in December 2019. Damietta also has been rendered ineffective as a gas supply absence due to feud with UFG (Union Fenosa Gas). Damietta is 80% owned by UFG (a joint venture between Naturgy Energy Group S.A., or before known as Gas Natural from Spain, and Italian Eni S.p.A.) with the rest 20% was divided equally between Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS).
