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Price of gas sold to Israel to be revised: Egyptian petrol minister

Rates for export are open to periodic revision, says Ghurab

Ahram Online, Thursday 17 Mar 2011
Views: 2328
Views: 2328

Abdallah Ghurab, Egypt’s newly appointed Minister of Petrol has announced that he will review the price of gas sold to Israel and other countries.

Ghurab says that the current price has been modified and there is a mechanism to increase the prices in the contracts between Egypt and the countries who import the gas.

Many members of Egypt’s opposition have been vocal about their disapproval of the former regime's selling of Egyptian gas to Israel for what they deemed as far below its original value.

However, Ghurab says that the prices that people talk about were actually part of the original contract and have been modified and are subject to periodic revision.

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