12 May 2012
The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Corporation (EGAS), both state-run companies, have filed a request for arbitration against the Egyptian gas export operator to Israel, East Mediterranean Gas (EMG), Hani Dahi, head of EGPC, told Bloomberg.
The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Corporation (EGAS), both state-run companies, have filed a request for arbitration against the Egyptian gas export operator to Israel, East Mediterranean Gas (EMG), Hani Dahi, head of EGPC, told Bloomberg.
The two companies filed the request on 3 May after EMG breached the terms of the gas export contract by delaying gas payment dues for four months.
EGPC and EGAS last month notified EMG, in which Ampal-American Israel Corporation owns a 12.5 per cent stake, of the termination of the contract. Ampal and other investors in EMG on 3 May said they had filed an arbitration request against Egypt over the contract's termination.
© Al Ahram Weekly 2012
