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Egypt and Jordan to Sign Modified Gas Agreement

Source: Ahram Online 9/11/2011, Location: Africa

A well-placed Jordanian source says a new natural gas agreement between Egypt and Jordan will be finalised and renegotiated prices announced next Thursday. The source, who requested anonymity, told Jordanian newspaper Al Rai that Egypt's supply of gas will resume once the agreement is signed. He said this could start as early as Saturday but refused to give any details of the new prices.

The source said that a Jordanian delegation visited Cairo two weeks ago to discuss the issue, headed by the kingdom's ministers of industry and trade and energy. The source also said that the Egyptians told the Jordanian delegation of a security plan aimed at preventing further attacks on the pipeline but offered to compensate Jordan should they occur.

Egyptian officials did not object to the idea of compensating Jordan for the repeated cut in its supplies. The pipeline transferring Egyptian gas to Jordan and Israel has been bombed five times since February. The disruptions have cost the Jordanian treasury an estimated $5 million per day after it was forced to switch power plants to using diesel and heavy fuel rather than gas.

The original agreement between the two countries was signed in 2004, with Egypt pledging to supply Jordan with 2.4 billion cubic feet per year for 15 years.

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