Sunday, June 19, 2011

Israel may face raised gas price from Egypt

Egypt, a prominent natural gas producer in the Middle East, producing 62.7 billion cubic meters in 2009, said in April it would review gas contracts. (File photo)
An agreement to raise the price of Egyptian gas exported to Jordan may result in increased prices to other markets, notably Israel, the Egyptian oil minister said in remarks published in the Egyptian newspaper Al Dostour.

"Reaching an agreement with Jordan to modify the price of Egyptian gas is a start towards amending prices to other states, with Israel at the forefront," Petroleum Minister Abdullah Ghorab was quoted as saying.