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Egyptian General Petroleum Corporation

Company Summary

Description

The Egyptian General Petroleum Corporation is a national oil company of Egypt.

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Company Transactions

Date: 3/31/2020
Type: Acquisition

BUYERS:
  • Eni SpA
  • Egyptian General Petroleum Corporation
  • Egyptian Natural Gas Holding Company
    • SELLERS:
  • Naturgy Energy Group S.A.
    • ASSETS:
  • Damietta Segas LNG Terminal
    • DETAILS:
    NOTES:
    Eni and Naturgy have reached an agreement within Egypt to restart operations at the contested 7.56 Bcf Damietta LNG Plant in Northern Egypt by June 2020. In sum, the deal will see Naturgy close its businesses in Egypt and break-up the JV with Eni. Eni will increase its holdings in the plant alongside Egyptian state-owned firms. The plant has been offline since 2012 when political turmoil hit Egpytian gas supply and the country was forced to begin importing supplies. Once the deal closes, the plant will be 50% owned by Eni, 40% by EGAS and 10% by EGPC.
    REGIONS:
  • Mediterranean
  • North Africa