EMG President resigns

Mohamed Ibrahim Tawila, president of Egyptian energy company Eastern Mediterranean Gas (EMG), best known for its controversial gas export deals with Israel, has resigned following Egypt’s 25 January uprising.

Sources close to EMG said Tawila, 70, is now awaiting a response to his resignation from his Israeli partners.

Tawila has not answered calls to confirm the reports.

EMG was established under Egypt’s free industrial zones system in February of 2000.

In June of 2005, the company signed a contract with the state-run General Petroleum Authority and the Holding Company for Natural Gas to purchase seven billion cubic meters of Egyptian natural gas annually for the next 15 years with the aim of exporting it to Israel, at fire-sale prices, along with other east Mediterranean countries.

(Source: almasryalyoum.com)


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