Sunday, April 22, 2012

  • Sunday, April 22, 2012
  • Elder of Ziyon
From Al Arabiya/Reuters
Egypt has notified Israel that it is “terminating” a controversial gas supply deal, Ampal-American Israel Corporation, which owns a stake in a company that exports natural gas from Egypt to Israel, said on Sunday.

Ampal said that its international partners in Egypt-Israel gas deal are considering legal options against Egypt, according to Reuters.
Ampal issued a press release calling this termination "unlawful":
Ampal-American Israel Corporation AMPL, a holding company in the business of acquiring and managing interests in various businesses, announced today that it has been advised by East Mediterranean Gas Co. ("EMG"), in which Ampal has a 12.5% interest, that Egyptian General Petroleum Corporation ("EGPC") and the Egyptian Natural Gas Holding Company ("EGAS") notified EMG that they were terminating the Gas Supply and Purchase Agreement (the "Source GSPA") between the parties. EMG considers the termination attempt unlawful and in bad faith, and consequently demanded its withdrawal. EMG, Ampal, and EMG's other international shareholders are considering their options and legal remedies as well as approaching the various Governments.

As previously disclosed, EMG initiated arbitration against EGPC and EGAS in October 2011 due to EGPC and EGAS's long-standing failure to supply the gas quantities owed under the Source GSPA. EMG is seeking compensation from EGPC and EGAS for damages resulting from their contractual breaches. EMG already has further requested that an arbitral tribunal issue an order that EGPC/EGAS perform their obligations under the Source GSPA and rule that EGPC and EGAS are not entitled to terminate the agreement. The arbitration is ongoing. In addition, as previously disclosed, Ampal and certain other international shareholders of EMG have initiated the process of submitting claims against the Government of Egypt under various bilateral treaties for the protection of investments.

Last year Israel's National Infrastructure Minister Uzi Landau said that the gas agreement with Egypt is the most important outcome of the Camp David Accords.

But, hey, how important is a signed agreement, anyway? It's not like the Arab side feels that they have to obey agreements with the Zionist entity, do they?

The US reaction to this flagrant dismissal of one of the key components of the Israeli-Egyptian peace treaty will be important. Remember, Israel gave up some valuable oil fields in the Sinai as part of the Camp David accords.

Not important at all but slightly interesting would be Jimmy Carter's reaction, since he takes all credit for Camp David to begin with. Will his hate for Israel trump his belief in the agreement?

Printfriendly

EoZTV Podcast

Podcast URL

Subscribe in podnovaSubscribe with FeedlyAdd to netvibes
addtomyyahoo4Subscribe with SubToMe

search eoz

comments

Speaking

translate

E-Book

For $18 donation








Sample Text

EoZ's Most Popular Posts in recent years

Hasbys!

Elder of Ziyon - حـكـيـم صـهـيـون



This blog may be a labor of love for me, but it takes a lot of effort, time and money. For over 14 years and 30,000 articles I have been providing accurate, original news that would have remained unnoticed. I've written hundreds of scoops and sometimes my reporting ends up making a real difference. I appreciate any donations you can give to keep this blog going.

Donate!

Donate to fight for Israel!

Monthly subscription:
Payment options


One time donation:

subscribe via email

Follow EoZ on Twitter!

Interesting Blogs

Categories

#PayForSlay Abbas liar Academic fraud administrivia al-Qaeda algeria Alice Walker American Jews AmericanZionism Amnesty analysis anti-semitism anti-Zionism antisemitism apartheid Arab antisemitism arab refugees Arafat archaeology Ari Fuld art Ashrawi ASHREI B'tselem bahrain Balfour bbc BDS BDSFail Bedouin Beitunia beoz Bernie Sanders Biden history Birthright book review Brant Rosen breaking the silence Campus antisemitism Cardozo cartoon of the day Chakindas Chanukah Christians circumcision Clark Kent coexistence Comix Community Standards conspiracy theories COVID-19 Cyprus Daled Amos Daphne Anson David Applebaum Davis report DCI-P Divest This double standards Egypt Elder gets results ElderToons Electronic Intifada Ellen Horowitz Embassy EoZ Trump symposium eoz-symposium EoZNews eoztv Erekat Erekat lung transplant EU Euro-Mid Observer European antisemitism Facebook Facebook jail Fake Civilians 2014 Fake Civilians 2019 Farrakhan Fatah featured Features fisking flotilla Forest Rain Forward free gaza freedom of press palestinian style future martyr Gary Spedding gaza Gaza Platform George Galloway George Soros German Jewry Ghassan Daghlas gideon levy gilad shalit gisha Goldstone Report Good news Grapel Guardian guest post gunness Haaretz Hadassah hamas Hamas war crimes Hananya Naftali hasbara Hasby 2014 Hasby 2016 Hasby 2018 hate speech Hebron helen thomas hezbollah history Hizballah Holocaust Holocaust denial honor killing HRW Human Rights Humanitarian crisis humor Hypocrisy ICRC IDF IfNotNow IJ Benjamin Ilan Pappe Ilhan Omar impossible peace incitement indigenous Indonesia infographic international law interview intransigence iran Iraq Islamic Judeophobia Islamism Israel Loves America Israeli culture Israeli high-tech J Street jabalya James Zogby jeremy bowen Jerusalem jewish fiction Jewish Voice for Peace jihad jimmy carter Joe Biden John Kerry jokes jonathan cook Jordan Joseph Massad Juan Cole Judaism Judea-Samaria Judean Rose Judith Butler Kairos Karl Vick Keith Ellison ken roth khalid amayreh Khaybar Know How to Answer Lebanon leftists Linda Sarsour Linkdump lumish mahmoud zahar Mairav Zonszein Malaysia Marc Lamont Hill Marjorie Taylor Greene max blumenthal Mazen Adi McGraw-Hill media bias Methodist Michael Lynk Michael Ross Miftah Missionaries moderate Islam Mohammed Assaf Mondoweiss moonbats Morocco Mudar Zahran music Muslim Brotherhood Naftali Bennett Nakba Nan Greer Nation of Islam Natural gas Nazi Netanyahu News nftp NGO Nick Cannon NIF Noah Phillips norpac NSU Matrix NYT Occupation offbeat olive oil Omar Barghouti Omri Boehm Only in Israel Opinion oxfam PA corruption PalArab lies Palestine Papers pallywood pchr PCUSA Peace Now Peter Beinart Petra MB philosophy poetry Poland poll Poster Preoccupied Prisoners propaganda Proud to be Zionist Puar Purim purimshpiel Putin Qaradawi Qassam calendar Quora Rafah Ray Hanania real liberals RealJerusalemStreets reference Reuters Richard Falk Richard Landes Richard Silverstein Right of return Rivkah Lambert Adler Robert Werdine rogel alpher roger cohen roger waters Rutgers Saeb Erekat Sarah Schulman Saudi Arabia saudi vice self-death self-death palestinians Seth Rogen settlements sex crimes SFSU shechita sheikh tamimi Shelly Yachimovich Shujaiyeh Simchat Torah Simona Sharoni SodaStream South Africa Sovereignty Speech stamps Superman Syria Tarabin Temple Mount Terrorism This is Zionism Thomas Friedman Tlaib TOI Tomer Ilan Trump Trump Lame Duck Test Tunisia Turkey UAE Accord UCI UK UN UNDP unesco unhrc UNICEF United Arab Emirates Unity unrwa UNRWA hate unrwa reports UNRWA-USA unwra vaccination Varda Vic Rosenthal Washington wikileaks Winstanley work accident X-washing Y. Ben-David Yemen YMikarov zahran Ziesel zionist attack zoo Zionophobia Ziophobia Zvi

Blog Archive