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[size=36]$ 1 billion lawsuit prevents Egypt from starting importing Israeli gas[/size]
Economy | 02:13 - 08/09/2019
Tantalizing - Mawazine News
The Wall Street Journal reported that security challenges and a massive lawsuit against the Egyptian government are behind the postponement of the implementation of the deal to export Israeli gas to Egypt worth 15 billion dollars.
Cairo was originally expected to start importing natural gas from March, under a 2018 agreement between the two countries brokered by the US government, but this has not yet happened due to problems arising over the pipeline project between the two parties. Analysts familiar with the details of the deal told the newspaper that there are consequences to the start of the deal, including security concerns related to the intensification of the organization "Daesh" activities in recent months in the Sinai Peninsula, where part of the pipeline is scheduled to exist.
"If they cannot defend themselves and their infrastructure, it will be difficult for them," said Zac Gold, an ISIS expert in Sinai at CNA, a consultancy that cooperates with the US government. Protecting the infrastructure of this pipeline. "
At the same time, the newspaper reported that a lawsuit filed by a Thai company against the Cairo government is among the obstacles that prevent Cairo from starting to implement the agreement with Israel.
The newspaper quoted judicial documents confirming that the state-owned PTT, which owns a package of shares of the Eastern Mediterranean Gas Company, is suing the government of Egypt in a court in Cairo, asking them to pay $ 1 billion in compensation for losses suffered by the company due to the collapse of the previous gas deal between Egypt and Israel worth 2.5 billion Cairo was forced to cancel it in 2012 after militants attacked the above-mentioned pipeline.
Egyptian President Abdel Fattah al-Sisi and other high-ranking Egyptian officials, as well as Egyptian state-owned oil and gas companies, are among the text.
The court, which is due to open next Tuesday, could take several years to overshadow the new agreement between Cairo and Tel Aviv.
Egyptian officials announced that Cairo would not start importing Israeli gas unless all legal problems related to the collapse of the 2012 deal were resolved. Gas field, although it will not legally endanger the new agreement.
But Israeli Energy Minister Yuval Steinitz said he was optimistic about the issue. "I think the Thai lawsuit will not be a tangible obstacle to the deal," he said.
The newspaper quoted an Egyptian energy executive and Steinitz as asserting that Cairo and Tel Aviv are planning to test the new pipeline this month, with the possibility of exporting Israeli gas to Egypt as of next January.
https://www.mawazin.net/Details.aspx?jimare=63995
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