(Al-Ahram-Egypt) Amira Howeidy - After news of talks between the Egyptian Natural Gas Holding Company (EGAS) and the American Noble Energy Company, which operates Israeli gas fields, Egypt's Ministry of Petroleum appears to publicly support a new policy that would allow the importation of Israeli gas. If the parties agree to export the Israeli gas via the existing offshore pipeline it could start flowing into Egypt's grid as early as this summer. The sub-headline of Al-Masry Al-Youm's lead story on 3 February proclaimed: "Egypt to confront summer blackouts with Israeli gas." However, "Israel won't be able to supply Egypt with the required volumes before the end of 2016 or 2017," said an informed source. When former President Hosni Mubarak approved a 20-year agreement to export Egyptian gas to Israel in 2005, it caused a political uproar. In the aftermath of the uprising that toppled Mubarak in 2011, Egypt unilaterally terminated this agreement.
2015-02-17 00:00:00Full ArticleBACK Visit the Daily Alert Archive