Italy’s Eni to build stationary gasification plant in Egypt

Eni, the Italian energy giant, will invest $150 million to build a stationary gasification plant in Damietta, Egypt, according to a report in Asharq Bloomberg. This facility, excluding a cargo storage component, will convert imported liquefied gas into its gaseous form. The Egyptian government also plans to also build a floating gasification unit, with Egypt and Jordan exploring international partnerships for its development.

The new infrastructure is intended to bolster Egypt's gas supply, by integrating the converted gas into the national grid. Egypt is also reportedly working to boost its daily natural gas production from its current 4.6 billion cubic feet to 5 billion cubic feet by year-end .

In July, Egypt launched a tender for five liquefied gas shipments for August and September, with plans for more tenders until local production recovers. Prime Minister Mostafa Madbouly recently stated that daily energy consumption has risen to over 37 gigawatts, creating a 4-gigawatt shortfall.