According to the Egyptian press the government, in view of power shortages caused by insufficient domestic gas supply to power stations, is contemplating the possibility of re-purchasing around 1.5 billion m³ of natural it supplied to Israel.
Back in July 2005 the Egyptian petroleum and mineral resources minister Sameh Fahmy and the Israeli infrastructure minister Benjamin Ben Eliezer signed a $2.5 billion gas deal to supply the Israeli Electric Corporation with 1.7 billion m³ per year.
According to inside sources the Egyptian Ministry of Petroleum would have to repurchase Egyptian gas for around $14 billion, sold to Israel for $2 billion dollars, effectively donating Tel Aviv $12 billion dollars.
Source: Arab Monitor
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