One of attacks on Sinai gas pipeline
Photo: AP
Egypt report: Talks on gas supply halted
Source in Egyptian Ministry of Petroleum says secret negotiations on amending price of gas sold to Israel stopped following escalation in south. Meanwhile, attempts continue to repair Sinai gas pipeline
A source in the Egyptian Ministry of Petroleum said Saturday that secret talks aimed at changing the price of gas sold to Israel
have been stopped following the terror offensive
near Eilat and the security escalation
in southern Israel.
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According to the source, "We are referring to secret negotiations between the parties. Many discussions have been held with the Israeli side on the possibility of amending the gas prices."
Egypt began supplying gas to Israel more than three years ago through a pipeline crossing Sinai, as part of an agreement signed between the two governments in 2005. The deal requires the Egyptians to supply up to 7 billion cubic meters of natural gas per year for 20 years – a total of 140 billion cubic meters.
During the Mubarak regime, and especially after his downfall earlier this year, many in Egypt began speaking out against the agreement, claiming it does not match the prices in the global gas market.
While the revolution attempts in Egypt continued in February, terrorists blew up one of the gas terminal in Sinai. Since then, the pipeline's route has been sabotaged four times, bringing the gas supply to Israel to a halt.
The last explosion took place about three weeks ago, and over the weekend Egyptian website al-Youm al-Sabaa reported that the attempts to repair the Sinai gas pipeline continue.
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