Egypt will receive an Israeli envoy to discuss the recent International Chamber of Commerce’s (ICC) ruling over disrupted Egyptian gas exports to Israel, Ahram Online reports.
According to the report, the Israeli delegation is likely to negotiate terms with the EGPC, and EGAS: “Even if Israel sent an envoy to negotiate, he will deal with EGPC and EGAS, not the petroleum ministry itself,” Petroleum Ministry informed.
In early December, the ICC ruled against Egypt in a dispute over halted gas exports from Egypt to Israel. The body ordered Egypt to pay around $2b in damages – a decision Egypt stated it would appeal. However, some legal experts say there is no appeal process for ICC rulings.
Israeli Prime Minister, Benjamin Netanyahu voiced his hope for a negotiated solution to the issue: “I think we will find a solution, because it is in both countries’ strategic interests.”
Egypt also froze all negotiations between Egyptian and Israeli energy companies – a decision comes as Egyptian companies are increasingly looking to import gas from Israel.