05-06-2011
Israel has rejected Egypt’s plan to reconsider the price of gas and has threatened to resort to international arbitration, an official source in the Petroleum sector told Ahram Online.The source said that the American partner in the East Mediterranean Gas Company (EMG), which is owned by fugitive businessman Hussein Salem, has already warned the Egyptian Natural Gas Holding Company (EGAS) that Israel will seek international arbitration if Egypt does not resume pumping gas to Israel based on the prices agreed upon in exisiting contracts.