Middle East Economic Survey

VOL. LI

No 11

17-March-2008

EGYPT

Egypts Fourth LNG Train In Final Stage Of Negotiations, Says Fahmy

Egypt is finally set to make good on its promise to raise the cap on gas prices paid to foreign producers operating in its Mediterranean waters, the Egyptian Minister of Petroleum Sameh Fahmy told MEES in Vienna on 5 March. This will pave the way for a group of IOCs to develop the countrys deepwater reserves to supply a new 5mn tons/year LNG train at Damietta. The rising...