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Last update - 18:11 20/05/2008
Egypt PM wants Israel to pay more for its natural gas
By Reuters
Tags: Israel, Egypt, Energy

Egypt has told Israel it wants to raise the price of the natural gas it exports to the country, the state-run Middle East News Agency (MENA) quoted Prime Minister Ahmed Nazif as saying on Tuesday.

Natural gas from Egypt began flowing to Israel through a pipeline for the first time in May.

T
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his followed an agreement signed in 2005 with Israel's East Mediterranean Gas Co (EMG) for the annual supply of 1.7 billion cubic meters of Egyptian natural gas over 20 years. Global prices for energy, led by oil, have soared since then.

"We have succeeded in amending the price of Egyptian (natural) gas with some countries like Spain and France, and we are negotiating currently with Israel," Nazif told the editors of state-run media outlets according to MENA.

Oil Minister Sameh Fahmy said earlier on Tuesday Egypt was seeking to review the price of natural gas exports to secure more revenues. He did not refer to Israel.

Opposition and private-owned media have criticized the government for not trying to amend its contract with Israel after the recent rise in global energy prices.

Anti-Israel sentiment runs high in Egypt because of the prolonged Israeli-Palestinian conflict. Egypt and Israel fought four wars between 1948 and 1973, before signing a peace treaty in 1979.

According to the 2005 deal, the natural gas will be delivered to power plants in the cities of Tel Aviv and Ashdod in the first stage. It will enable Israel Electric to increase its production of electricity from natural gas, which stands at 20 percent
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  1.   Was thaere a written agreement ??? 18:58  |  Norman 20/05/08
  2.   Rising Oil & Gas Prices Undermine Funding Terror PLO-PA 19:09  |  Joseph . E 20/05/08
  3.   natural gas 19:38  |  david 0 20/05/08
  4.   Anti Israel sentiment in Egypt is because of Pals?? Good morning! 20:26  |  Alain 20/05/08
  5.   # 1 Norman 20:32  |  Nick Ferriman 20/05/08
  6.   It`s what happens when you depend on 21:05  |  fawning servileowitz 20/05/08
  7.   Solar powered plants 21:20  |  David G 20/05/08
  8.   better idea: seize petrol from iran. 00:28  |  frenz 21/05/08
  9.   Sell to a Terrorist State? 01:09  |  Sam 21/05/08
  10.   #7 David G - Solar power 14:38  |  Sam 21/05/08
  11.   Pipe the Gas into the tunnels 22:52  |  Rightster 21/05/08
  12.   RE: Egypt PM wants Israel to pay more for its natural gas 02:59  |  Betty 22/05/08
  13.   Doubt this is political 03:11  |  Slibovitz 22/05/08
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