Resumption of gas flow to Israel unclear

PressTV –  Mon Feb 28, 2011 11:13AM

A fire is seen after an explosion went off at a gas pipeline in Egypt’s northern Sinai Desert on February 5.
Resumption of Egyptian natural gas supplies to Israel is still unclear more than three weeks after an explosion on a gas pipeline in the Sinai Desert.

A blast, blamed on unknown attackers, hit the pipeline carrying natural gas from Egypt to Israel and Jordan in El-Arish area of north Sinai on February 5, forcing the shutdown of the conduit.

Holding company Ampal-American Israel Corporation, which holds 12.5 percent in East Mediterranean Gas (EMG), said on Sunday that the Egyptian gas flow to Israel may be resumed by March 4.

After the explosion, EGM predicted that repair work on the pipeline may take only one week.

This is while Egypt’s military rulers did not clarify their position toward the resumption of gas exports to Israel.

Egypt supplies 40 percent of Israel’s natural gas demand based on a deal reached between Cairo and Tel Aviv after the 1979 peace accord.

In December, Israel signed 20-year contracts with Egypt worth more than $10 billion (7.4 billion euros) — much cheaper than global prices — to import Egyptian natural gas.

The incident took place as millions of Egyptians thronged to streets, demanding the former President Hosni Mubarak to end his 30-year rule.

On February 12, Mubarak stepped down as president of Egypt after weeks of protest in Cairo and other cities of the North African country.

DB/HRF

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PressTV – Resumption of gas flow to Israel unclear.

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