Union Fenosa Gas (UFG) is in talks to restart a liquefied natural gas (LNG) plant in Egypt which has been idle for several years due to a lack of gas supply, the Italian-Spanish firm said. “UFG is in conversations with Egypt to restart the plant as soon as possible,” the company said on Monday in an emailed response to Reuters over money the World Bank has ordered Egypt to pay the company. Egypt said on Wednesday it was “taking all necessary steps,” without elaborating, over USD2bn which a World Bank arbitration body ordered it to pay to UFG because of a lack of gas supply to the Damietta plant, in which the company has a majority stake. The Damietta plant in northern Egypt is 80% owned by UFG, a joint venture between Spain’s Gas Natural and Italy’s Eni, with the remaining 20% split evenly between state-owned companies EGAS and EGPC.