BREAKING NEWS

EMG shareholders pursue legal action against Egypt

JERUSALEM - International shareholders inEast Mediterranean Gas Co (EMG) pushed ahead with legalclaims against Egypt for $8 billion in damages from contractviolations in gas supplies, a company official said.


The decision came after saboteurs in the Sinai Peninsula for the third time this year blew up part of theEgyptian pipeline that feeds gas to Israel and Jordan.


Nimrod Novik, a member of the EMG board, told Reuters onMonday that shareholders from the United States, Thailand andIsrael met a few days ago and decided to "seek protection fromthe international court of arbitration in Washington".


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