(Al-Ahram-Egypt) Jordan's cabinet has agreed to raise the price of the natural gas it imports from Egypt, the Jordanian daily Al-Arab Al-Youm reported Tuesday. Egypt and Jordan signed a gas agreement in 2004 stipulating that Egypt would supply the kingdom with 2.4 billion cubic meters annually for a period of 15 years, enough to supply 80% of Jordan's electrical needs. The supply of Egyptian natural gas saw a sharp decline in 2010 and continued to fall this year due to frequent interruptions of supplies after five bombings of Jordan's gas pipeline since last February. The Jordanian government is exploring options for the supply of natural gas from Russia and Qatar since the interruptions cost Jordan up to $5 million a day. Egypt is demanding to re-price the gas it sells Israel. Nimrod Novik, a board member of the Eastern Mediterranean Gas Company (EMG), responded: "EMG's price is higher than that of any other Egyptian export venue, is better than other regional exporters receive and is in line with international prices."
2011-08-18 00:00:00Full ArticleBACK Visit the Daily Alert Archive