Last remaining seats to the Jpost 2017 Annual Conference! Get your special offer now

Jordan agrees to pay higher price for Egypt gas

ByYOSSI NISSAN/GLOBES
May 12, 2011 22:57

Israel has a similar gas contract with Egypt, and there have been several reports in the Egyptian media that the Egyptian government wants to double the price of gas it sells to Israel.

A natural gas pipeline [illustrative].

A natural gas pipeline [illustrative].. (photo credit:Courtesy)

The Jordanian government has agreed to reopen its natural- gas contract with Egypt and to pay a higher price, Egyptian newspaper Al-Mal reported Thursday.

Israel has a similar gas contract with Egypt, and there have been several reports in the Egyptian media that the Egyptian government wants to double the price of gas it sells to Israel. The agreement with Jordan could put pressure on Israel to agree to a substantial price hike, Al-Mal said.



Be the first to know - Join our Facebook page.


The report quoted Prime Minister Essam Sharaf as saying he hopes to boost revenue from natural-gas sales by $3 billion to $4b.

It also quoted Egyptian Natural Gas Holding Company chairman Hassan al-Mahdy as saying the Jordanian government had agreed to adjust the price it pays for its gas under a 2004 agreement.

Egypt said last month it would review its gas contracts with other states, including Israel and Jordan, amid accusations the government of former president Hosni Mubarak had improperly negotiated the sale of gas at preferential prices. Egypt’s public prosecutor ordered former energy minister Sameh Fahmy and five other senior energy officials detained for questioning over the Israel gas deal.

East Mediterranean Gas Company supplies 40 percent of Israel’s gas needs.

Yossi Maiman owns 20.6% of EMG through Ampal- American Israel Corporation and his private company Merhav Ltd.
Relevant to your professional network? Please share on Linkedin

Tags:
  • Egypt
  • Jordan
  • natural gas
  • Share this article via
    from around the web
    Related Content
    Russia Syria
    April 26, 2017
    Report: Desperate Syrians sell kidneys, eyes to Lebanese organ traffickers

    By THOMSON REUTERS FOUNDATION

    Top Stories
    Israel Weather
    • 15 - 29
      Beer Sheva
      16 - 24
      Tel Aviv - Yafo
    • 17 - 28
      Jerusalem
      15 - 22
      Haifa
    • 20 - 35
      Elat
      19 - 33
      Tiberias