In January 2002, a heads of agreement was signed with Gaz de France (GdF) for the sale of 3.6 million tonnes per annum (mtpa) of LNG for 20 years. EGPC, the Egyptian Natural Gas Holding Company (EGAS), BG Asia Pacific Holdings Pte Limited (an affiliate of BG International), Edison and GdF became the Sponsors of this new project and commissioned Bechtel to construct a single-train liquefaction plant matching the volumes to be sold to GdF.

In 2003, Edison sold its share in Egyptian LNG and the upstream WDDM concession to a subsidiary of the Malaysian National Oil Company, Petronas (PICL Egypt), who brought extensive LNG experience to the project. Today, the Egyptian LNG project is well underway with deliveries from Train 1 expected in the second quarter of 2005 and Train 2 later in the same year. With two trains commissioned in one year, Egyptian LNG will contribute to Egypt's leap into the 7th place in the elite club of LNG exporting countries before the end of 2005.

The Egyptian LNG plant is located on approximately 165 hectares of land some 3 kilometres away from the town of Idku and 40 kilometers east of Alexandria on the Egyptian Mediterranean coast