The Egyptian government expects the current gas dispute with Israel to be settled through negotiations, Daily News Egypt reports.
An anonymous government official told the paper that because Israeli gas crosses Egyptian territory, Egypt holds leverage, which will lead to a negotiated settlement. “Egypt stands on solid ground, being the only way out for Israeli gas,” the official said.
The official stated that Israel lacked alternatives to the Egyptian infrastructure for its energy industry – as Israel’s is insufficient, and terminals in Jordan, Turkey, and Lebanon have been deemed unsuitable. The official stated that resolving the lawsuit will allow Israel to use gas facilities in Damietta and Idku, as well as Egyptian pipelines.
The official added that the International Chamber of Commerce’s (ICC) decision was not intended to be publicly announced, as the negotiations were to continue. The Israel Electric Corporation’s (IEC) decision to leak the decision led Egypt to announce the details.
The decision by the ICC ruled that Egyptian companies owed more than $2b in damages to Israel after gas supplies were disrupted over instability in the Sinai. Egypt has frozen energy negotiations with Israel until the matter is resolved.