Free Headline Alerts     
Worldwide Web


Friday, May 20, 2011     GET REAL

Turmoil in post-Mubarak Egypt seen affecting regional natural gas supply

WASHINGTON — Egypt's new military regime could preside over restrictions of regional natural gas supplies, a congressional report said.


The Congressional Research Service said turmoil in Egypt following the ouster of President Hosni Mubarak in February could suspend gas supplies and increase the price of energy. CRS said Egypt, whch accounts for 2.1 percent of the market, produces the gas for Lebanon, Jordan and "more than half the natural gas consumed in Israel."

"Although Egypt is considered an energy producer or net exporter overall, its oil and natural gas exports are not large enough to affect regional or global prices," the report, titled "Implications of Egypt’s Turmoil on Global Oil and Natural Gas Supply," said.

Also In This Edition

"The most serious impact would be on regional recipients of its natural gas exports."

The report cited repeated attacks on the Arab Gas Pipeline, the Sinai-based facility that supplies the Levant and meant to reach Turkey. CRS said the attacks were believed to have stemmed from Bedouins in the peninsula who have sought equal rights and development.

About Us     l    Privacy     l     l
Copyright © 2011    East West Services, Inc.    All rights reserved.