Gulf Oil and Gas accountACCOUNT

Threatens from Israel Over Gas Prices

Source: Al Ahram Online 5/26/2011, Location: Africa

Share |
Israel has rejected Egypt’s plan to reconsider the price of gas and has threatened to resort to international arbitration, an official source in the Petroleum sector told Ahram Online.

The source said that the American partner in the East Mediterranean Gas Company (EMG), which is owned by fugitive businessman Hussein Salem, has already warned the Egyptian Natural Gas Holding Company (EGAS) that Israel will seek international arbitration if Egypt does not resume pumping gas to Israel based on the prices agreed upon in exisiting contracts.

The source said that Egyptian officials have rejected Israel’s threats and are adamant that they will adjust the prices and only resume pumping gas after agreement is reached.

The source added that Spain, however, has accepted the amendments to the gas prices.

The issue of gas prices has been a massive point of tension during the Mubarak regime. Many believed that Mubarak and his cronies sold Egypt’s gas to Israel and other countries at prices well below its value. Adjusting the gas prices has became a key demand of the revolutionaries which led interim Prime Minister Essam Sharaf to promise to review the existing agreements.

Unrest in MENA - The New Oil Order

Oil and Gas Pipeline >>

Oil and Gas Pipeline News in Egypt >>

United Kingdom >>  12/13/2017 - Weeks-long closure after discovery of hairline crack has lead to concerns over how higher prices could affect consumers during cold snap. The closure ...
Russia >>  12/12/2017 - Gazprom Neft has secured six patents for proprietary non-contact pipeline diagnostics technologies — which do not, as yet, have any competition in the...

Russia >>  12/8/2017 - The Gazprom Management Committee took note of the information regarding the progress of the Nord Stream 2 project. It was noted at the meeting that th...
Russia >>  12/7/2017 - On December 5, 2017, the Urdomskoye Gas Pipeline Operation Center (GPOC), a large company doing business in the Arkhangelsk Region and one of the 14 G...

Russia >>  11/30/2017 - Nord Stream AG celebrates reaching another milestone in its reliable supply of natural gas. In November 2011, the first line started operations. Line ...
Russia >>  11/29/2017 - The Gazprom Board of Directors took note of the information regarding the Company’s efforts for the gasification of Russian regions. It was highlighte...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Egypt >>

More News

 

Oil & Gas Companies in Egypt >>


Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.