• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 1 hour The United States produced more crude oil than any nation, at any time.
  • 2 hours China deletes leaked stats showing plunging birth rate for 2023
  • 4 days Bad news for e-cars keeps coming
  • 4 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Falling Energy Prices Spark Hopes for Fed Rate Cuts

Falling Energy Prices Spark Hopes for Fed Rate Cuts

US inflation unexpectedly remained flat…

Egypt Predicts New Israel Natural Gas Deal Shortly

Egyptian Petroleum Minister Abdullah Ghorab said that his country will soon finish drafting a new contract for natural gas exports to Israel, adding that the new contract will include a significant price increase.

Ghorab commented, "The final draft related to amending the prices for exporting natural gas to Israel will be completed soon. It will see a big increase in the price. Whoever pays more will receive preference for our gas," Egypt’s Ahram news agency reported, adding that the new prices are in line with global gas prices and that they will benefit Egypt's economy.

Egypt is also seeking to alter its export prices of natural gas exports to Jordan.

Israel previously imported Egyptian natural gas through Egypt's $500 million East Mediterranean Gas Company Ltd. (EMG) pipeline, which since the overthrow of Egyptian President Hosni Mubarak in February has been subjected to repeated attacks, closing completely on 25 July.

Ghorab remarked that the Egyptian government was finalizing legislation in order to update prices for Egyptian natural gas exports to Israel to reflect current global market prices, adding that Egypt was holding direct talks with Israel negotiating new gas prices to reflect the price increases.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News