Move could reinvigorate operations at liquefaction facilities
- Egyptain security entities said to be working on political dimensions of deal
- Move could pave way for new supplies that could reinvigorate operations at Energy Development Company (Edco) and Damietta liquefaction facilities
Egyptian security bodies are poised to grant approval for the import of Israeli gas, paving the way for new supplies that could reinvigorate operations at the countrys Energy Development Company (Edco) and Damietta liquefaction facilities.
Currently, security entities are working on the political dimensions of the deal, according to English-language publication Daily News Egypt, which cited an anonymous source within the Egyptian government.
Both of the countrys two liquefied natural gas (LNG) export terminals have seen supplies diverted away from their facilities, affecting profits for their operators: Britains BG Group and Spains Union Fenosa.
Egypt is currently struggling with its worst gas shortage in years as demand outstrips domestic production.
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