A World Bank arbitration body has ruled that Egypt must pay US$2 billion to a Spanish-Italian joint venture in a dispute over halted natural gas supplies in the early 2010s, the company Union Fenosa Gas (UFG) said in a statement.

Union Fenosa Gas, a joint venture of Spain’s Naturgy and Italy’s Eni, operates the Damietta liquefied natural gas (LNG) plant in Egypt.

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