LNG

International dispute centre awards Union Fenosa $2.01 bln over Damietta

Union Fenosa Gas has received an award from the International Center for Settlement of International Disputes in relation to its case regarding Egypt’s Damietta LNG plant
By Staff reporter 3 September 2018 0 32390

Union Fenosa Gas, which is 50/50 owned by Naturgy Energy Group and Eni, has received an award from the International Center for Settlement of International Disputes in relation to its case regarding Egypt’s Damietta LNG plant, according to Naturgy.

Damietta is operated by Union Fenosa but has been idle since 2012 because of gas shortages in the Egyptian market.

Union Fenosa initiated a claim in 2014 and has been awarded $2.01 billion (after tax and interest) by the court, Naturgy said.