Egypt's Petroleum Minister: We'll raise gas prices

Abdullah Ghorab: Israel's party at the expense of the Egyptian people is over.

Egypt will sharply raise the price of natural gas it sells to Israel, Egyptian Minister of Petroleum Abdullah Ghorab told "Al Ahram" in an interview today. He said that Israel's party at the expense of the Egyptian people was over, adding, "Whoever pays more will receive preference for our gas."

Ghorab said that the Egyptian government was finalizing a bill to update prices for natural gas exports to reflect global prices. He said that Egypt was in direct talks with Israel on the new gas prices.

Published by Globes [online], Israel business news - www.globes-online.com - on October 4, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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