Israel: Egypt wants more money for gas

A years-old agreement between Egypt to sell natural gas to Israel may take new form, and mainly a more expensive price, after dramatic but secret talks between the two countries. Egypt may be willing to supply more gas to its natural-resource-poor neighbor, possibly at the price of reopening the original agreement.

Spurred by opposition anger over Egypt’s supply of natural gas to Israel, and mainly its low price, the Egyptian petroleum minister, Sameh Fahmy, vowed to “review prices of natural gas in all agreements without any exception”.
Fahmy’s words at a parliamentary session in Cairo on the pact with Israel triggered shock waves throughout Israel’s energy sector. His words on Sunday also raised concerns about the agreement’s reliability, and about Egypt’s supply of gas to the Israel Electric Corporation via Egyptian-Israeli consortium EMG.

Haaretz