Egypt announces termination of gas supply, purchase agreement with Israel
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The Egyptian government informed East Mediterranean Gas Co. on Sunday that it would be terminating its gas supply and purchase agreement with Israel. Ampal-American Israel Corporation, which holds a 12.5% interest in EMG called the termination attempt "unlawful and in bad faith," and consequently demanded its withdrawal.
Ampal, and EMG's other international shareholders are considering their options and legal remedies as well as approaching the various governments. (Ynet)
