Go Back   Professional Soldiers > Area Studies > Middle East

Reply
 
Thread Tools Display Modes

Egypt ends gas deal with Israel, stakeholder says
Old 04-22-2012, 15:15   #1
Paslode
Area Commander
 
Paslode's Avatar
 
Paslode is offline
Join Date: Jun 2008
Location: Kansas
Posts: 3,179
Egypt ends gas deal with Israel, stakeholder says

Quote:

(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 (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".

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 trety with Israel, in 1979, followed by Jordan in 1994.

(Reporting by Ari Rabinovitch, Writing by Allyn Fisher-Ilan; Editing by Michael Roddy)


http://www.reuters.com/article/2012/...8FM2XZ20120422
__________________
Quote:
The corollary from the first position is, that the right of the people to keep and bear arms shall not be infringed. The prohibition is general. No clause in the constitution could by any rule of construction be conceived to give the Congress a power to disarm the people. Such a flagitious attempt could only be made, under some general pretence, by a state legislature. But if in any blind pursuit of inordinate power either should attempt it, this amendment may be appealed to as a restraint on both. - William Rawle
  Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



All times are GMT -5. The time now is 22:38.



Green Beret Foundation

Copyright 2004-2013 by Professional Soldiers
Site Designed, Maintained, & Hosted by Hilliker Technologies