Brussels, 20/12/2004 (Agence Europe) - On 16 December, the European Investment Bank singed an agreement to lend USD 250 million to Spanish Egyptian Gas Company SAE (SEGAS) to build a liquefied natural gas plant and storage and export facilities at Damietta in Egypt, about forty miles west of Port Said. The EIB notes that this is the biggest such project in the world. SEGAS is a public private partnership made up of two of the EU's biggest energy companies, Union Fenosa of Spain and ENI of Italy, which together hold 80% of SEGAS, and two Egyptian state companies, Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS), each of which hold 10% of SEGAS.