In a new step for the controversial Egypt-Israel gas deal, negotiations were held to amend the price of the Egyptian gas exported to Israel to cope with the international ones, according to the Yediot Achronot Newspaper.
Jay Mittal, Economic Expert, said that the Egyptian East Mediterranean Gas Company (EMG), the one responsible for exporting gas to Israel, signed an agreement for price amendment with the Egyptian government.
It is worth mentioning that the well-known Israeli businessman Yossi Maiman holds largest shares in the Egyptian company.
Since the signing of the Egyptian gas exportation deal with Israel in 2005, prices were set at $2.75 per million cubic feet, while the average international gas prices were $8.
According to Israel’s Globes Newspaper, the final approval of the price amendment deal is to be finalized soon and the Egyptian gas to be exported once again to the Israeli territories after a six-month suspension.