Egypt would continue gas exports to Israel after price deal

Egypt confirmed that it is not opposed to continuing gas exports to Israel if the two countries reach a new agreement based on new prices.

The Egyptian Natural Gas Holding Company (EGAS) has notified the Israeli side of the decision, said Planning and International Cooperation Minister, Fayza Abouelnaga, in a briefing Monday after a cabinet meeting at the General Authority for Investment. She added that the Egyptian government or the Ministry of Petroleum has nothing to do with the trade contract between EGAS and the East Mediterreanean Gas Company .

The contract was terminated after the Egyptian side sent notifications to EMG five times, but EMG did not commit to its financial obligations as per the contract terms, while the deadline was 31 March, explained, explained the minister.

Responding to questions about Israeli Foreign Minister Avigdor Lieberman's aggressive statements after the contract was terminated, Abouelnaga said Lieberman backtracked on his statements.

Egypt’s ambassador to Israel, Yasser Reda, told Israeli Deputy Foreign Minister Danny Ayalon on Monday that the decision to terminate the agreement was financial and not political, reported the website of the Israeli daily Yedioth Ahronoth. Ayalon said that Israel expects Egypt to resolve the dispute, according to the paper, adding that maintaining normal relations between Cairo and Jerusalem was crucial for regional stability.

This article is an edited translation from Al-Masry Al-Youm

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