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Egypt cancels natural gas deal with Israel

Egypt's national gas company notifies EMG about cancellation; the pipeline carrying gas to Israel has been blown up numerous times since Mubarak's removal from power.
Sources close to EMG said in response, "Egypt does not understand what it is doing. This move will bring back the country - politically and economically – by 30 years. This is a breach of the peace agreement with Israel."

By TheMarker
22.04.12


Egypt's national gas company EGAS announced Sunday that it will be cancelling its natural gas supply deal with Israel.

Egypt on Sunday notified EMG (East Mediterranean Gas Co), the exporter that supplied Israel with natural gas, that the deal will be canceled.

A deal was reached in 2005 between the Israeli and Egyptian governments as part of a political agreement according to which Cairo undertook to allocate 7 billion cubic meters (BCM) of Egyptian gas to the Israeli market for 20 years, with an option to double the supply.

Sources close to EMG said in response, "Egypt does not understand what it is doing. This move will bring back the country - politically and economically – by 30 years. This is a breach of the peace agreement with Israel."

Egyptian militants have blown up the pipeline that was carrying gas to Israel at least 14 times since the popular uprising that ousted longtime Egyptian leader Hosni Mubarak.







http://www.haaretz.com/news/diplomacy-defense/egypt-cancels-natural-gas-deal-with-israel-1.425883


Added: Apr-22-2012 Occurred On: Apr-22-2012
By: aydeo
In:
Other Middle East
Tags: Egypt, cancel, natural gas deal
Views: 1586 | Comments: 78 | Votes: 1 | Favorites: 0 | Shared: 0 | Updates: 1 | Times used in channels: 1
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  • good news.....

    Egyptian government was losing $10 millions everyday from this deal due to blatant underpricing and in the meanwhile Egyptians were also having shortage crisis in both petrol and natural gas.

    Posted Apr-22-2012 By 

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    • @tfou
      Exactly, it was more than 10 million, and the deal was made by Mubarak's sons, who reaped all the profits.

      Posted Apr-22-2012 By 

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    • @tfou

      It's only "good news" because this is regarding Israel- if this deal was with Lybia,Sudan or Jordan, you wouldn't give any single fuck.

      You,Israel haters,are so clear, this is so hillarious!!

      Posted Apr-22-2012 By 

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    • @aydeo
      nope, its good news because regular Egyptians were getting fucked over and Egypt lost Billions in revenue that could be spent on poverty

      Posted Apr-22-2012 By 

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    • @aydeo not hate..but that contract was a total bullshit...its over..israel wants gaz??..fucking pay the price...!!

      Posted Apr-22-2012 By 

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    • @Jafar Berg just inform yourself about that shit contract..fucking retarded motherfucker

      Posted Apr-22-2012 By 

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  • Comment of user 'FrankFrimann' has been deleted by author (after account deletion)!
  • Critics charge that Israel got the gas at below-market prices and that Mubarak cronies skimmed millions of dollars off the proceeds, costing Egypt millions of dollars in lost revenue.

    But by the time the gas started flowing in 2008, international prices were at least three times higher.

    Israel insists it is paying a fair price for the gas..

    fair price?? motherfuckers...you want gaz?? pay the price....

    Posted Apr-22-2012 By 

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  • and the shithole of the world gets a little dirtier.

    Posted Apr-22-2012 By 

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  • Comment of user 'wargypzy' has been deleted by author (after account deletion)!
  • Is this any surprise?
    Fortunately the Israelis and Cypriots have discovered huge NG deposits in the Med,in their territorialwaters.Lebanon and Turkey disput that, but israelwillkick Lebanon's and Syria'sasses,again,if they try to interfere.

    Posted Apr-22-2012 By 

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  • What a surprise!!

    Posted Apr-22-2012 By 

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  • 7th century here you come.

    Posted Apr-22-2012 By 

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  • On going attacks from Sinai, on Israeli towns,civilians and facilities,canceling agrreements and talking about changing the peace deal - seems that Egypt wants head to head confrontation with Israel.

    If something will indeed happen then it is quite obvious all the bashers will use the same old rethoric,accusing Israel for being the agrressor,and ignoring all the provocations which came before that, just like they ignored all the provocations and deadly attacks which came before Israel confront More..

    Posted Apr-22-2012 By 

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    • @aydeo

      And of course the "Israeli" readers of Haaretz in English (most of them with Arab names) are celebrating this event....

      But when Israel will retaliate and send in forces into the Sinai,in order to restore order, they will all scream like sycos that Israel is a war monger...

      Posted Apr-22-2012 By 

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    • @aydeo
      Thats b/c Israel is psychotic, it started the slaughter in 2009 and this gas deal was beyond theft.

      That this deal was broken is a huge sign that that their is a huge shift in the Egyptian government.

      Its good for the Egyptians and good for Egypt

      Posted Apr-22-2012 By 

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    • @FUCK_S0PA

      No matter what, ALWAYS Israel,and ONLY Israel has the whole blame.

      Very hard to take someone seriuosly when he base all of his claims and logic in this way- If someone will always put the blame on you,only you,no matter what is the case,context or circumstances,(lets say in your job or relations) you will quite fast stop pay him any significant attention.

      Israel can be wrong,and it is wrong in all sort of things,but you are turning it into a solid hateful and twisted ideology (&qu More..

      Posted Apr-22-2012 By 

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    • @aydeo
      And the problem with you is your huge ego and blaming everyone else for Israel's problems.

      Violent Palestinians in the West Bank, it can't be because of Israeli settlers razing their crops, stealing water and land and lets not forget Israeli soldiers killing them, destroying their farms, demolishing their houses, not allowing them to farm

      Ya, Damn Palestinians in the West Bank, violent for no reason at all

      Posted Apr-22-2012 By 

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    • @FUCK_S0PA

      You can go trough my long list of items here (over 2 years) and check for yourself how many items I brought here regarding settler wrong policies, probably much more than you had....

      If I don't agree with policies by the Chineese,Russian or Turkish gov. it doesn't mean I'll turn it into a general hate fest twoards everything which is related to China,Russia or Turkey,or dellibertly ignore other actors and circumstances, like you tend to ignore Iran,Hamas,Hezbholla,Islamic Jihad,Egy More..

      Posted Apr-22-2012 By 

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  • Great but it is too late

    Posted Apr-22-2012 By 

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    • @Egyptianrevolution
      y?

      Posted Apr-22-2012 By 

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    • @FUCK_S0PA
      because of this contract Egypt lost billions of dollars in the last 15 years while over 40 % of Egyptians live under the line of poverty, this decision should be taken earlier .

      Posted Apr-23-2012 By 

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    • @Egyptianrevolution
      True, but you have to options
      1. Reminisce and relive about what could have been and continue beating a dead horse OR

      2. Move on, understand why and how the mistake(s) was made, and insure you do everything and anything to make sure it doesn't happen again, and punish those who were active and ESPECIALLY those COMPLICIT

      Posted Apr-25-2012 By 

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  • Good move. First isolate, then drain. Cancer dies, done.

    Posted Apr-22-2012 By 

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  • But doesn't Israel limit the ammount of Power and Fuels into Palestine?

    Israel will still get their gas but it's hadly like they need to keep their houses warm in such a climate. No one is going to die from hypothermia :)

    Posted Apr-23-2012 By 

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  • Egypts pipelines keep getting blown up for the sole reason they are supplying Israel. Egypt is taking a safety measure which Israel would do the same exact thing. If I am not mistaken the deals made were during Mubaraks reign of Egypt which if i am not mistaken was illegal because there was no bidding, the contract went to one of his friends or relatives.

    Posted Apr-23-2012 By 

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  • Comment of user 'Surfsock' has been deleted by author (after account deletion)!
    • @Surfsock Hopefully Israel will cut off power, gas, and money subsidies to the palestinians. That's worth about $100 million a month.

      Posted Apr-22-2012 By 

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    • Comment of user 'Surfsock' has been deleted by author (after account deletion)!
  • So now we can experience t criminalnisrael to start a war with Egypt.to.try to.force it to give its resources to Israel at the cost of Egypt's safety and prosperity. Fuck Israel. Here's a protip for them. Quit fucking with people and people might be your friends. Keep whining and getting your big brother to beat people up for you and no one is going to give a shit about you. Kinda like now.

    Posted Apr-22-2012 By 

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  • Time to take back the control of the Sinai.
    Egypt is breaking the peace treaty.
    We gave them the Sinai on condition of gas supply at a slightly cheaper rate.

    Posted Apr-22-2012 By 

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    • @Freejay
      Israel has been warring...er...slaughtering defenceless people too much.

      Lets see you try that shit with Egypt lol

      Posted Apr-22-2012 By 

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    • @Freejay This has nothing to do with politics, if you followed whats going on then you would know that this is a business dispute, actually you would have understood this even if you read the article in this post.

      Posted Apr-22-2012 By 

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    • Comment of user 'wargypzy' has been deleted by author (after account deletion)!
    • @FUCK_S0PA How did that work out for Egypt last time?

      Posted Apr-22-2012 By 

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    • Comment of user 'Surfsock' has been deleted by author (after account deletion)!
  • Israel dont really give a shit seeing as they have discovered vast natural gas fields in the med.And egypt who you going to sell it to the sudanese to far the Libyans they have their own mmmm

    Posted Apr-22-2012 By 

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    • @anglosaxonwarlord

      only problem is large amount of natural gas was found off of Gaza's coast thus belonging to them...this is why they like to control the water so much over there.

      Posted Apr-23-2012 By 

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  • Comment of user 'hedgehog' has been deleted by author (after account deletion)!
  • stupid fucking bastards... wont belong until they blow up the pyramids because they where not build by muslims...

    Posted Apr-22-2012 By 

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