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Investigation about Export of Egyptian Gas to Israel

Source: www.gulfoilandgas.com 3/6/2011, Location: Africa

Extensive investigations are taking place with the ex-Egyptian Minister of Petroleum Sameh Fahmy regarding accusations of wasting public money in the Natural Gas deal with Israel. Sameh Fahmy is accused to sell the Egyptian Gas to Israel at a level below global prices despite the fact that many Egyptian cities suffer from severe shortage of natural gas.

Sameh denied all allegations against him and said that his aim was to boost export of the Egyptian liquified natural gas and to bring foreign currency to the country, especially with the presence of large reserves and many discoveries to support Egypt plans to export gas and to supply cities and villages in Egypt with their needs.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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