Egypt orders review of gas contracts with Israel
Egyptian Prime Minister Essam Sharaf says review is aimed at bringing in greatest returns for country, at income boost of some $3-4 billion.
By The Associated Press Tags: Israel news Egypt protests Hosni MubarakEgypt's prime minister says has ordered a price review of its contracts to supply natural gas to Israel and Jordan over widespread domestic criticism, reports Egyptian's official news agency MENA.
Prime Minister Essam Sharaf's spokesman, Ahmed el-Samman, was quoted by MENA as saying that the review is aimed at bringing in the greatest returns for Egypt. El-Samman said revised contracts could boost income by $3 billion to $4 billion.
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Egyptian Prime Minister Essam Sharaf speaks during a press conference in Cairo, Egypt, March 7, 2011. |
| Photo by: AP |
Egypt's contracts to supply gas to Israel have been widely criticized in the country as offering gas at rates far below market prices.
The contracts have come in for renewed criticism following the ouster of former President Hosni Mubarak, with critics pointing to the deals as an example of the cronyism prevalent in the former government.
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Gas was discovered decades after the peace treaty took effect, and definetly is not part of the deal. We talk about price revision, market prices review ... what's the link, unless you meant that if they don't sell with the price we want, we will declare war with Egypt !!!!
Israel has its own gas off shore. Plenty of sun for Solar. If Egypt can't sell it, they drink it.. Gas prices like oil prices are going to go down in any event. I don't blame Egypt for trying to get max bucks for their resource, but Israel does not need it.
going back in time.. Just watch from prosperous tourist country it will become another lebanon where people will get killed at will... Sad part is egyptians will be lamenting times with Mubarak.. Well al quada hijacking all the muslims...
in the past the zionist government used to deal with the Mubarak's system,now u have to deal with the egyptian people who refuse ur existence.
Combined with the uprising scaring away all the tourists. No wonder the Egyptians are a bit strapped for cash,
Couple this with a few other items such as renewed ties with Iran and you can see where this is going if you look (not so far) into the future.
Egyptian resources should be traded at their market value and the proceeds used for the benefit of the Eyptian people. Israel has an economy which is able to afford to pay its way.
Is that it's taken so long for them to address it!
Economic or political. There was a gas treaty. We have to buy it at a certain price whether we discover natural gas in Israel or not. Egypt has committed to sell it to us at a certain price. No Israeli left-wing dares to say a single word against such a "review". Despicable.
Just the begining!! We should also demand refund for the discounted price over the past years. The deal was illegal
hamas.
and an expensive one if Israel had kept the Sinai, the income form oil and gas would have been much greater than US aid. Now Israel has better reason not to surrender Judea and Samaria.
Israel has never had peace with Egypt. It had a business arrangement with a tiny sliver of wealthy Egyptians. Israel saved billions on defense while a handful of Egyptians and Israelis got wealthy.
if u want sinai again,we'll wait u. truly we all egyptian people want to end this camp david. there are now millions of Revolutionaries waiting the chance to move their revolution from Tahrir square to Al-Qauds
I know you think Israel had choice but I know for a fact that Israel doesn't give up land unless they really have to
Sir, Sainai wasn't an Israeli land to keep. It was Egyptian and we took it back peacefully, thx to ur broad minds.
Having to buy gas at international prices makes peace with Egypt a failure? Having to keep IDF in Sinai at combat readiness, having to worry of the Southern front when fighting in the North, having the Egyptians actively helping weapons smuggling into Ghazza instead of coordinating with Egyptian intelligence chief how to stop it, now that would have been a failure. Mr. Gilmour, where do you live? Come back to earth
Hope the muslim brotherhood will let you speak your views when they r in charge. Small chance.
How huge is huge? hahahahaha.....you are funny!
Half of that belongs to Lebanon...Nassrallah is serious
Check your facts before posting Baba... or should I say BOBA
1. The gas field is not in Gazan waters. 2. Israel will become an exporter of gas, according to The Marker", the Ha'aretz economic cupplement. So there.
On December 29, 2010, Houston-based Noble Energy announced a "significant natural gas discovery" in the Leviathan offshore license area eighty miles to the north of Haifa. The field has an estimated 25 trillion cubic feet (tcf) of gas, making it the world's largest deepwater gas discovery in ten years. The field is twice the size of the British natural gas reserves in the North Sea and should be operational in 2016. There is only one problem. Israel signed a 20 year agreement with Egypt in December 2010. Now if only israel had the chance to get out of that agreement? Well, thak you Egypt for the chance.
Hardly suprising they need every shekle they can get.
So the government over there can continue stealing. Egypt's problem is not how much money but how they use it.
Hardly suprising they need every shekle they can get.
it's time to also review the Camp David accords and demand the Israeli government to keep its side of the bargain starting with complete withdrawal of Israeli military forces and settlers from the West bank as it was agreed on 33 years ago.
You guys lost the war,that you started, you signed peace agreement, you got what you wanted to get Sinai, we offered you the rest, you guys didn't wanted this dumpster, didn't need responsibility....
The one Israel signed with Egypt did not deal with the Palestinian Issue - in fact Israel was willing to also give Gaza (which was always part of Egypt) back to Egypt but Egypt didn't want it. If you are referring to the Camp David Agreement that Clinton, Arafat and Rabin negotiated, Arafat wouldn't sign it (according to Bill Clinton) so the deal was never made. If he had, they would have had their state years ago and things would be much different today. What a pity Arafat could not make the choice for peace.
If not.. Of course Egypt won't go back to the state of war, but do not expect Egypt to restrain the growth of its army or keep its numbers in the Sinai down anymore. They would also be within their rights to cut diplomatic ties and such. Maybe Israel doesn't care tho.
why don't you try to get it back and see what happens
Start working hard to recover your economy and stop the backward ideology of hate.