Egypt to review gas prices exported to Israel after opposition

Egypt's minister of petroleum said Sunday his government will review the price of natural gas exported to Israel after coming under criticism from opposition groups. In February Egypt began pumping natural gas to Israel in accordance with an energy accord between Cairo and the Jewish state but opposition groups questioned low prices in the deal, describing them as below market rates. "We will review prices of natural gas in all agreements without any exception," the official Middle East News Agency quoted Petroleum Minister Sameh Fahmy as telling the parliament late on Sunday in a session devoted to debate the agreement with Israel. Under the agreement, the Cairo-based East Mediterranean Gas (EMG) sells 1.7 billion cubic meters of Egyptian natural gas annually to the state-run Israel Electric Corporation for a period of 15 years.