Skip to comments.Egypt Cancels natural gas deal with Israel
Posted on 04/22/2012 4:46:19 PM PDT by edpc
Egypt's national gas company EGAS announced Sunday that it will be cancelling its natural gas supply deal with Israel.
Ampal-American Israel Corporation, a partner in the East Mediterranean Gas Company (EMG), which operates the pipeline, said the Egyptian companies involved had notified EMG they were "terminating the gas and purchase agreement."
(Excerpt) Read more at haaretz.com ...
I don't buy it.
I suspect that the Muslum Brotherhood is behind this.Those scum are going to cause a lot of trouble in the future too.
And dictator Bashir says Sudan will not tranship South Sudans oil via their pipeline. What a world!
The result of Obummer’s Arab Spring.
This will help muslim-israeli relations.
Jan 6, 2011: The confirmation last week of the largest underwater discovery of natural gas in a decade off Israeli shores has made many in the Jewish state dizzy with talk of becoming a global energy power possessing reserves worth tens of billions of dollars.
It won’t mean anything 12 months from now when the Tamar and Leviathan come on line and start sending gas to Israel.
Israels reserves of natural gas, now under development in the countrys Mediterranean offshore, are poised to rise substantially in the near future, according to a senior government official.
Israels potential gas discoveries stand at 1,000 billion cu m, said Israel Natural Gas Authority Director-General Yehosua Stern, adding that Israel’s proven gas reserves amount to 300 bcm, most of it in the offshore Tamar field.
However, Stern told delegates at a conference on energy and the environment that the reserves figure is expected to rise by a further 453 bcm after production tests are completed at Leviathan field.
Stern also told conference delegates that he expects an additional 550 bcm of gas to be discovered in Israeli economic waters, which eventually will bring the country’s total reserves to 1,300 bcm.
Gee, ya THINK??? :-)
Israel can too.
I certainly hope they do not dilly-dally with that natural gas development.
Truthfully, I think the real impact here is going to be felt in Egypt. The new government really has no idea how economics works, or how, now that they have rejected loans (they know will be stolen by the military), and their income from Israel, how they plan to feed 80 million people.
Perhaps their idea is that “Allah will provide”. In such circumstances, Allah has a bad habit of demanding heads on poles.
Israel has plenty of Shale Oil on land, but it’s not as far along as what’s happening offshore.
Totally agree with your assessment! What business would cancel provision of its product to a PAYING customer, especially one who is WEALTHY? The reality is that Egypt has just boycotted themselves, not Israel.
Delek Drilling confirmed last week that it will begin pumping natural gas from its wells in July.
Pinnacle 1 begins pumping gas just as the Yam Tethys gas field is exhausted. Pinnacle 1 sits on more than one billion cubic meters of gas.
The Tamar field is estimated at nearly 10 trillion cubic feet of natural gas.
If youd like to be on or off, please FR mail me.
Obama & crowd wanted the jihadist Muslim Brotherhood to topple Mubarak, and it happened, with assistance. This is phase two, against Israel. Obama should be happy with himself.