Middle East Economic Survey


No 13


Financial Crisis Holds Up Damietta LNG Train 2 After Long-Awaited Approval

Egypts Ministry of Petroleum has finally given Eni and BP the authorization to build a second 5mn tons/year LNG train at Damietta, after the cabinet gave its long-awaited approval earlier this year. Strong public and political opposition to any increase in gas exports at the perceived expense of domestic supplies had delayed the decision. But financial constraints have...