Egypt: Petroleum Minister - Amendment of Gas Contracts With Israel Soon

Minister of Petroleum Abdallah Ghorab confirmed on Tuesday 3/1/2012 that the new prices of gas contracts will be between $5 to 7 for each one million thermal unit.

He pointed out that the price of Egyptian gas to Israel will be amended soon, and that it will not be less than $5.

The price of gas for the countries, which get the Egyptian gas without contracts, will not be less than $10, he said, affirming that since January 25, 2011, the Egyptian gas reached Israel only for 10 days.