Gulf Oil and Gas accountACCOUNT

French Law Office Defend Egypt Gas Export to Israel

Source: www.gulfoilandgas.com 2/16/2012, Location: Africa

Share |
Israel is pressing charges against Egypt to the International Arbitration Court claiming that Egypt failed to meet gas export obligations through Eastern Mediterranean Company. Accordingly, the Egyptian General Petroleum Corporation (EGPC) begins to take action to defend its position.

According to an Egyptian source, Israeliís resort to the International Arbitration Court is only for forcing Egypt to accept new contract terms in favor of Israel. Holding meetings between the two sides to negotiate new contract terms is a clear evidence, the source added.

EGPC has clarified to the international French law office handling the case on behalf of Egypt that Al Arish gas pipeline explosion is the reason to blame for negative implications which harms not only Israel, but also Jordan.

The Arbitration may last for two years in which each party has the right to choose an arbitrator, and to reach an agreement for hiring a third arbitrator.

A reliable source quoted that Egypt decision to change the exporting gas prices to Israel is final and fair for a balanced deal; on the other hand Israel is asking Egypt for compensation due to the interruption of gas supply.

Unrest in MENA - The New Oil Order

Natural Gas News in Egypt >>

Trinidad and Tobago >>  6/19/2017 - The National Gas Company of Trinidad and Tobago Limited (NGC) and EOG Resources Trinidad Limited (EOG) reached an agreement for a continued gas supply...
Qatar >>  6/18/2017 - Qatargas, the World's Premier Liquefied Natural Gas Company, announced the signing of a new Sale and Purchase Agreement (SPA) with Shell. Under the te...

Qatar >>  6/6/2017 - Exxon Mobil Corp said that production and exports of liquefied natural gas from Qatar have not been affected by rising diplomatic tensions in the Midd...
Russia >>  6/6/2017 - The Gas Export and Enhancing Reliability of Gas Supply to Europe Press Conference was held in Moscow today in the lead-up to the annual General Shareh...

Qatar >>  6/5/2017 - India's Petronet LNG said it did not expect any impact on gas supplies from Qatar after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain seve...
Russia >>  6/5/2017 - Rosneft and BP signed an agreement on strategic cooperation in gas and a Memorandum of Understanding (MoU) in respect to the sale and purchase of natu...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


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

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 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.