Damietta Port Authority (DPA) Chairman Tariq Shaheen has discussed investment opportunities with a delegation from ExxonMobil.

The company wants to buy parts of either Idku or Damietta liquefaction facilities as a part of its deal with Egypt to liquefy gas and export it to global markets.

Egyptian Minister of Investment, Dalia Khorshid, witnessed the signing of a loan with BNP Paribas worth $650m for the development of two power stations in Assuit and west Damietta.

Israeli Tamar Partnership and the Spanish energy company Union Fenosa Gas (UFG) are holding talks on a possible pipeline gas supply deal reviving the 2014 memorandum of understanding that has since been halted over the Israeli domestic disputes regarding energy market regulatory issues.

Egypt’s ongoing efforts to boost its energy capacity received an early Ramadan lift as the contractor Orascom Construction announced that it has completed the first phase of the West Damietta power plant two weeks early.

BP Egypt announced on Saturday a significant gas discovery in Salamat well which is the first well in the North Damietta Offshore Concession granted in February 2010 and operated by BP.