Middle East Economic Survey
IEC Approves In Principle 15-Year Egyptian Gas Deal
The state-owned Israel Electric Corporation (IEC) has agreed in principle to purchase Egyptian gas from the Israeli-Egyptian joint venture East Mediterranean Gas (EMG), the company said in a statement issued 23 May. The parties have agreed that IEC will start receiving 1.2 BCM/year of gas from July 2006, increasing to 1.7 BCM/year from July 2007 until 2020. IEC chose EMG as a supplier...