Egypt ex-energy minister detained for questioning on Israel gas deal

[Poll_Blind]

From Haaretz:

Israel gets 40 percent of its natural gas from Egypt under arrangement put in place after 1979 peace deal; Egyptian opposition groups complain gas was sold to Israel under preferential prices.

Egypt's public prosecutor on Thursday ordered former energy minister Sameh Fahmy and five other senior energy officials detained for questioning into a natural gas deal with Israel the government is reviewing.

Israel gets 40 percent of its natural gas from Egypt under an arrangement put in place after a 1979 peace deal. Opposition groups have long complained the gas was being sold at preferential prices and that East Mediterranean Gas (EMG), the company which supplies it, violated bureaucratic regulations.

--snip--

A statement from the prosecutor's office said the deal involved selling gas to Israel at prices way below market rates, which incurred losses worth over €714 million to the state.

--snip--

Egypt's new government has said it would review natural gas contracts with other states, including Israel and Jordan, which could boost the government's income by €3-4 billion.

Much more at the link, doesn't condense very well.

PB

[Arctic Dave]

1. This could get interesting.

When will Israel start dropping bombs.

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2. Doubtful they'll have the courage to be that unsubtle. But as our own country has shown...

...who aren't we willing to grease to keep oil cheap?

:shrug:

PB