(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. …