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Egypt's ambassador to Israel: Cairo not behind decision to nix gas deal

Ambassador Yasser Reda tells Deputy FM Ayalon decision to terminate agreement to supply natural gas to Israel 'financial, not political'.

Egypt offers to sell gas to Israel at new price - A senior Egyptian minister said on Monday her country is ready to resume gas exports to Israel but at a new price, after scrapping a long-term contract.

International Cooperation Minister "Fayza Abul Naga said the Egyptian side had no objections to reaching a new contract with new conditions and a new price," the official MENA news agency reported.

It is unclear whether the decision to terminate the gas supply would affect U.S. assistance to Egypt. Congress has recently warned that its assistance depends on maintaining the peace accords with Israel, yet did not list the gas agreement as one of the conditions.
U.S. assistance to Egypt amounts to approximately 1.3 billion dollars in military aid and an additional 300 million dollars in economic aid.

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Added: Apr-23-2012 Occurred On: Apr-23-2012
By: aydeo
Other Middle East
Tags: Egypt's ambassador, Cairo, Gas deal
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