Friday, Aug. 28
Latest News
  1. IS kills two generals in Iraq, advances in Syria
  2. Qatar Airways 'shamed' into action over pregnancy, marriage
  3. Egypt court sentences 12 IS supporters to death
  4. UN moves forward with plans for Syria chemical weapons probe
  5. Iran premieres big-budget epic film 'Muhammad'
  6. Israel to use crop, water technology to win friends in Africa
  7. Merkel says Austrian tragedy a 'warning' in migrant crisis
  8. US economy grew 3.7% in second quarter
  9. Recalling their own war, Belgraders embrace Syrian refugees
  10. IS claims suicide attack that killed two Iraqi generals
  11. Syria regime, rebels agree new truce for three towns
  12. Recalling their own war, Belgraders embrace Syrian refugees
  13. Drone kills five Qaeda suspects in Yemen stronghold
  14. HRW urges coalition to stop using cluster bombs in Yemen
  15. Israeli border police officer stabbed in East Jerusalem
  16. Berlin eases asylum rules for Syrians as migrants pour into EU
  17. Assad 'confident' of Russian support for Syria regime
  18. Iran enlists Afghan refugees as fighters to bolster Syria's Assad
  19. France sees Assad's 'neutralization' as pre-condition for peace
  20. Iranian epic 'Muhammad' aims to change Islam's image

Egypt 'ends gas deal with Israel'

April 22, 2012 9:44 P.M. (Updated: April 27, 2012 7:21 P.M.)
JERUSALEM (Reuters) -- Egypt's energy companies have terminated a long-term deal to supply Israel with gas after the cross-border pipeline sustained months of sabotage since a revolt last year, a stakeholder in the deal said on Sunday.

Ampal-American Israel Corporation, a partner in the East Mediterreanean Gas Company, which operates the pipeline, said the Egyptian companies involved had notified EMG they were "terminating the gas and purchase agreement".

The company said in a statement that the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company had notified them of the decision, adding that "EMG considers the termination attempt unlawful and in bad faith, and consequently demanded its withdrawal."

It said EMG, Ampal, and EMG's other international shareholders were "considering their options and legal remedies as well as approaching the various governments."

Before the sabotage, Egypt supplied about 40 percent of Israel's natural gas, which is the country's main energy source.

Israeli officials have said the country was at risk of facing summer power outages due to energy shortages.

Companies invested in the Israeli-Egyptian venture have taken a hit from numerous explosions of the cross-border pipeline and are seeking compensation from the Egyptian government of billions of dollars.

Ampal and two other companies have sought $8 billion in damages from Egypt for not safeguarding their investment.

The Egyptian decision is a potential blow to the country's ties with Israel, already tested by the toppling of Israeli ally President Hosni Mubarak a year ago.

Egypt was the first of two Arab countries to sign a peace treaty with Israel, in 1979, followed by Jordan in 1994.
Powered By: HTD Technologies
Ma'an News Agency
All rights reserved © 2005-2015