Swiss court tells Egyptian energy companies to compensate Israel
A Swiss court has rejected an appeal by Egyptian energy companies after a French court last year ordered them to pay $2 billion in compensation to state-owned Israel Electric Corp (IEC), the Israeli utility said.
An IEC statement on Friday said that Egyptian Natural Gas (EGAS) and Egyptian General Petroleum Corporation (EGPC) were liable because they were unable to fulfil their commitment to provide it with natural gas for its power stations.
The Egyptian petroleum ministry was not immediately available for comment.
