(Petra-Jordan) Jordan's Lower House Tuesday opened a debate about an agreement between the state-owned National Electric Power Company (NEPCO) and Noble Energy, a U.S. company developing an offshore Israeli gas field in the Mediterranean Sea, to supply NEPCO with gas over a 15-year period at a cost of $15 billion. "Jordan's higher interest is above all...to secure energy sources in a manner to cut the financial cost on the treasury," said Minister of Energy and Mineral Resources Mohammed Hamed. Hamed noted that imported gas from Israel will be half the price of liquefied gas and heavy fuel, and one-third of diesel prices. He said Jordan had imported more than 80% of its gas from Egypt in recent years, before supplies ground to a halt, and dismissed lawmakers' fears that the deal would leave Jordan "hostage" to a certain country [Israel].
2014-12-11 00:00:00Full ArticleBACK Visit the Daily Alert Archive