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Tuesday, March 22, 2011     GET REAL

Post-Mubarak Egypt raising gas prices for Israel

CAIRO — Egypt is reporting negotiations with Israel for an increase in the price of natural gas.


Egyptian Oil Minister Abdullah Ghorab said the government was discussing a gas price increase with several countries, including Israel.

In a briefing on March 20, Ghorab said Egypt was demanding a revision of the gas agreements to clients.

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"The move is mainly aimed to raise the prices of gas exported to those countries," Ghorab said.

Earlier, officials said Egypt has already informed Jordan that the price of gas would be doubled. Egypt, which exports four percent of gas production, also ships gas to Israel and Syria via a pipeline that was bombed in February. Egyptian gas exports to Israel began in 2008.

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