|
Egypt cancels natural gas deal with Israel
 Apparently Egypt doesn't need the shekels... cut off all aidEgypt's national gas company EGAS announced Sunday that it will be cancelling its natural gas supply deal with Israel. Ampal-American Israel Corporation, a partner in the East Mediterranean Gas Company (EMG), 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." Sources close to EMG said in response, "Egypt does not understand what it is doing. This move will bring back the country - politically and economically -- by 30 years. This is a breach of the peace agreement with Israel." yep. Don't subsidize fanatical stupidity Wonder if this means Jordan will still get its share of the gas that Egypt promised to provide. As I recall the pipeline goes through Israel. Posted by: Frank G 2012-04-22 |
| http://www.rantburg.com/poparticle.php?ID=343286 |