Egypt 'won't supply gas at current price'
Senior official in Egyptian gas industry says Israel has refused to pay more, has even threatened to turn to international arbitration
Saga surrounding gas supply from Egypt
to Israel
continues: A senior source in the Egyptian gas and oil industry says Israel has refused to pay more for the gas it purchases from Egypt and has even threatened to turn to international arbitration, Egyptian daily al-Ahram reported last week.
The official added that Egypt was holding similar negotiations with Spain, and that the Spanish company importing the gas had accepted more expensive rates.
Alternative?
Doron Peskin
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According to the report, Egyptian businessman Hussein Salem, who was a partner in the company involved in the Israel-Egypt gas deal and fled the country upon the start of the anti-government riots, warned the Egyptian governmental company which holds the rights to the gas that Israel would turn to international tribunals should the Egyptians fail to supply the gas at the price set in the agreement.
The source added that Egypt had rejected the threats and stuck to the price amendments, in accordance with average global rates.
He also said that the Egyptians were sticking to their refusal no to supply the gas to Israel before new prices are finalized. He stressed that "Egypt's justified right to sell its natural resources should not be degraded, especially after Spain agreed to amend the price."
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Attack on Egypt-Israel pipeline (archives)
Photo: AFP
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