A twenty year agreement was signed in 2005 between Egypt/EMG/Israel. Israel would buy "X" volume of gas per year at a specified rate (the price was AND IS confidential). Egypt would sell to EMG, and EMG would then sell to Israel, including their mark-up of the price. In 2009 the agreement was amended and Israel agreed to buy a larger volume per year and the prices were increased (still confidential). Egypt is cancelling the agreement claiming Israel is not meeting their financial obligations. No details given. For three month the pipeline providing the gas to Israel has been sabotaged in Egypt a dozen times and service discontinued. My guess is ...... Israel has been forced to buy gas from a secondary source because Egypt could not meet its volume obligation, and Israel in backcharging Egypt for the difference in price they have to pay. Egypt is gagging at this. Of course we will not see the details of this because the prices are "confidential". Seems to me Egypt is the one in breech of contract.
Iranian parliamentary panel gives conditional nod to nuke deal (Reuters)
from the article: Egypt offers to sell gas to Israel at new price