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Natural Gas

In 1995, the Egyptian General Petroleum Corporation (EGPC) signed a concession agreement with BG International Limited (BG) and Edison International (Edison) to explore for hydrocarbons in the West Delta Deep Marine (WDDM) region in the North Eastern Mediterranean. Very successful drilling activity uncovered a world-class gas resource that carried substantially larger reserves than what the local market could absorb. As a result, in 2001, the concession agreement was amended to allow the partners to export gas as LNG resource.

 
 

The site can accommodate up to six liquefaction trains. Therefore, the main objective of the company’s corporate, commercial and financing structure is to allow expansions and to permit new gas sellers to build additional trains without the complications of minority and lender approvals.

To achieve these goals, four companies have been set up. The site and all common facilities (port, storage and power generation) are owned by Egyptian LNG Company SAE (ELNG). This company controls expansions and is owned by the founder Sponsors. Each liquefaction train (currently two) is owned by a separate company; El Behera Natural Gas Liquefaction Company SAE (Train 1) and Idku Natural Gas Liquefaction Company SAE (Train 2). Each train company is a tolling entity that performs liquefaction services for a fee. Finally, the management, operation and maintenance of the plant are performed by a separate company: The Egyptian Operating Company for Natural Gas Liquefaction Projects SAE (OpCo).

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