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, Israeli’s 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 >>

Russia >>  3/21/2017 - Alexey Miller, Chairman of the Gazprom Management Committee, and Claudio Descalzi, Chief Executive Officer of Eni, signed a Memorandum of Understandin...
Trinidad and Tobago >>  3/17/2017 - The signing of a Heads of Agreement (HoA) among NGC, Shell and Venezuela’s state oil and gas company, Petroleos de Venezuela SA (PDVSA) and marked an ...

Venezuela >>  3/17/2017 - The People’s Power Minister of Petroleum of the Bolivarian Republic of Venezuela, Nelson MartInez, and the Minister in the Office of the Prime Ministe...
Qatar >>  3/14/2017 - Polish Oil and Gas Company (PGNiG) signed a side agreement to the existing Sale and Purchase Agreement (SPA) with Qatargas, the World’s Premier Liquef...

Russia >>  3/14/2017 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vasile Botnari, Chairman of the Board of Directors of Moldo...
Iran >>  3/11/2017 - First Vice-President Eshaq Jahangiri says that the natural gas distribution network in Iran is one of the worlds most formidable ones. ...

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 |

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.