Deal will see Tamar and Leviathan fields supply up to 6 billion cubic meters of gas until the end of 2025 for $1.1 to$1.2 billion
Egypt pipeline explosion
Electric Corp. will get $2 billion, EMG expected to get another $1 billion, following Swiss court ruling
Egypt stopped supplying Israel with gas in 2012 after the supply pipeline was repeatedly attacked by militants.
Egypt froze gas export deal talks after it was ordered to pay Israel $1.8 b after past deal collapsed because of pipeline attack.
International panel awards utility three years after Cairo rescinded long-term contract to sell Israel gas amid political upheavals.
Egypt sold natural gas to Israel under a 20-year agreement until it collapsed in 2012 after months of attacks on the pipeline.
Even though the Gazan organization is an offshoot of the Muslim Brotherhood, Cairo prefers to focus on the latter following Wednesday’s deadly terror attacks in Sinai.
Suicide bomber kills several in Libyan city of Misrata; Saudi-led coalition hits rebel bases in Yemen capital.
Israel Electric is prepared to do anything but cut its inflated costs.
No casualties reported in pipeline blast; five Egyptian security officers killed at checkpoints.
The Tamar and Leviathan offshore natural gas discoveries in effect reshuffles the deck that Jerusalem is playing with and stacks it in Israel's favor. Overnight Israel obtained the opportunity to shape the map of alliances in the Middle East to its will.
Clients will start getting gas next week while the controversy over exporting some of it rages on; Energy Minister: gas flow ushering in new era of economic independence for Israeli energy market.
The blast occurred in the early hours of Sunday morning at al-Tuwail, east of the coastal Sinai town of al-Arish.
Behind the scenes, a senior official from the Prime Minister's Office in Jerusalem was dispatched to Cairo to discuss the disputed gas contract, and reportedly returned several hours later.