No 34



IEC Must Complete Egypt Gas Deal Soon Or Talks Will Revert To BG

Israeli Prime Minister Ariel Sharon decided on 18 August that he would give Israel Electric Corporation (IEC), the countrys main potential customer for natural gas, around four weeks to finalize an agreement to purchase Egyptian gas. If no progress is made on the Egyptian track, IEC will resume discussions with BG with the aim of tying up a deal for the IECs second stage gas requirement in the...