Special to WorldTribune.com

CAIRO — Egypt has acknowledged its readiness to import Israeli natural gas.

Officials said Egypt was willing to import Israeli gas to ease the Arab nation’s fuel shortage.

The officials said such imports must be approved by the Cairo
government and enhance the Egyptian economy.

On June 30, Israeli offshore gas developers said they signed a preliminary accord with Britain’s BG to export gas to Egypt.

“There also must be a mechanism for international arbitration brought by
foreign companies against their Egyptian counterparts,” Egyptian Petroleum
Minister Sherif Ismail said.

In a briefing on June 27, Ismail did not cite imminent imports of
Israeli gas. The minister said domestic gas consumption increased by five
percent in June 2014 compared to the same month last year.

  Britain’s BG, Egypt signs preliminary deal to import Israeli gas, Sherif Ismail