Monday, August 23, 2010

Egypt to re-purchase natural gas sold to Israel

BETHLEHEM (Ma'an) -- The Egyptian government is seeking to re-buy approximately 1.5 billion cubic meters of natural gas it sold to Israel as the country faces a gas crisis, Egyptian media reported.

Unnamed sources told the Egyptian daily Ash-Sha'b that the Ministry of Petroleum and Mineral Resources said at least half of the natural gas sold to Israel would have to be repurchased for $14 billion, although it was originally sold for $2 billion.

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