BP extends its reach to Damietta.

(From Lloyds List)

BP IS expanding its presence in the fast growing liquefied natural gas market by purchasing production from Egypt's planned Damietta production facility, writes Tony Gray.

In a two-stage deal, the UK oil major has also agreed to feed natural gas to the LNG facility.

The natural gas supply deal has been agreed with the two Egyptian state-owned companies, Egyptian General Petroleum Corp and Egyptian Natural Gas Holding Co, which have a 20% stake in the Damietta LNG Plant.

BP Egypt and upstream partner IEOC, a subsidiary of Italy's ENI, will deliver up to 310m cu ft a day of natural gas to the plant starting from 2008. …