Cairo - Mubasher: The Egyptian ministry of petroleum is in talks with Union Fenosa to reduce a $2 billion fine.

Fenosa owns a natural gas liquefying factory in Damietta, which is expected to resume production by the next half of 2019.

The ministry assured the Spanish-Italian company its commitment to maintain gas supplies to the plant.

The International Centre for Settlement of Investment Disputes (ICSID) ruled in favor of Union Fenosa last September, obligating the Egyptian government to pay $2 billion.