|
|
| By: Israel Insider staff and partners |
| Published: June 30, 2005 |
| |
After years of political delay, Egypt agreed Thursday to supply Israel with U.S.$2.5 billion worth of natural gas over the next 15 years.
Israeli National Infrastructures Minister Binyamin Ben-Eliezer said the "historic" agreement would "show everyone that the peace between Israel and Egypt is solid."
Ben-Eliezer and Egyptian Petroleum Minister Sameh Fahmi signed the memorandum of understanding that stipulates Egypt will supply natural gas to an undersea pipeline from the north Egyptian town of el-Arish to the southern Israeli coastal city of Ashkelon.
The pipeline has not been built, but Ben-Eliezer told reporters he hoped gas will begin flowing within two years.
"This will guarantee natural gas (for Israel) for the coming 15-20 years," he said. The 15-year agreement can apparently be extended for another five years.
Egypt and Israel agreed in principal on a gas deal in 2001, but negotiations were repeatedly delayed as both sides differed over commercial terms. The Israeli-Palestinian conflict also damaged relations, any deal between the Egyptian government and Israel would have been unpopular with the Egyptian public.
The AP contributed to this report. |
| |
|
|
| |
|
|
| |
|
|
|
|
Click on the blue headline to read a Talkback comment and respond to it. Click on the  icon to send a private email to the talkback writer. The icon appears only if the writer has decided to be contacted. If no popup window appears, please make sure your popup blocker allows israelinsider.com.
|
|
| |
|
| |
|
