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«Delek» urged Egypt not to punish him for «Hearat the Power»

The Israeli company «Delek» and its partners called on the government of Egypt to continue the talks on gas deliveries from owned fields. Negotiations were interrupted after the international court ordered Egypt to pay compensation «Electric company».

Israeli firms note that they are not connected with a suit filed by the «Israel Power», and believe that the outcome of arbitration shall not annul the Protocol of intent signed at the end of November 2015.

The document testifies to intention of the parties to negotiate for the supply of gas from deposits of «Leviathan» in Ashkelon, where he will be fed on to Egypt via EMG owned by the company and through the Sinai Peninsula gas pipeline.

The negotiations on the supply of 4 billion cubic meters of gas a year for 15 years. Earlier the parties had already signed the supply agreement within three years not less than 5 billion cubic meters of gas at a total cost of $ 2.5 billion.

Note that this pipeline became the reason of submission to arbitration, which ordered Cairo to pay the «Israel Power» compensation of 1.76 billion U.S. dollars for the failure of gas supplies after the overthrow of President Hosni Mubarak in 2011.

After that, the Egyptian gas companies EGPC and EGAS were informed about termination of talks with Israel on gas purchases. The Egyptian authorities, in turn, announced his intention to appeal against the decision of the international arbitration.

«Delek» urged Egypt not to punish him for «Hearat the Power» 07.12.2015

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