Egyptian Natural Gas Holding Company for breach of contract

Egypt did not mind a new natural gas export agreement signed with Israel, but it must be renegotiated to the mutual obligations and the export price.




Najaf, said at a news conference that the Egyptian Natural Gas Holding Company has passed to side with the intent to sign the new agreement, but stressed that this is purely a commercial activity, between the two companies has nothing to do with the Egyptian Government.




For the decision to terminate the export agreement, Najaf emphasize that this is caused to default. She said: "We had five times reminded to fulfill contractual obligations until March 31, Israel still has the last chance to party, but they are ultimately no payment, automatic suspension of the contract."




Egyptian Natural Gas Holding Company for breach of contract, 22, announced the suspension of the contract signed with the Eastern Mediterranean on the export of natural gas to Israel. Under the agreement, the Eastern Mediterranean since 2008 as a contract party is responsible for deliveries to Israel natural gas. The company was established by fugitive businessman Hussein Salem, the former Egyptian President Hosni Mubarak cronies. In Egypt some people have been dissatisfied with their low price of natural gas exports to Israel.




Since last February, the Egyptian gas pipeline to Israel and Jordan were militants attacked 14 times, most recently in the early morning of April 9. The bomb attacks continued to interrupt gas supply to Israel and Jordan.




On January 18 this year, the Egyptian Natural Gas Holding Company has announced that, after repair, the local and international natural gas pipelines of the North Sinai gas is gradually restored. Israel 40% of natural gas supply be imported from Egypt, mainly for power generation

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