Top News :  

Egyptian gas line to Israel, Jordan hit

Sunday, February 05, 2012 11:44 PM

EL ARISH, Israel, Feb. 5 (UPI) -- Egypt's Arish natural gas pipeline to Jordan and Israel was blown up Sunday, Egyptian security forces said.

The attack came near el-Arish, in the northern Sinai Peninsula. It was the 12th time since the end of the Mubarak regime last year that the pipeline was interrupted, the newspaper Egypt Independent reported. Gunmen were responsible, the newspaper said, but no group had claimed responsibility.

The 750-mile pipeline carries Egypt's entire supply of exported natural gas, 90 million cubic feet daily. Jordanian Prime Minister Awn al-Khasawneh said the pipeline stoppages have cost his country about $2 billion in the past year.

The gas agreement with Israel, negotiated and signed during the Mubarak era, provides Israel with a supply of natural gas at below-market prices, and has been a source of friction between Egyptian political parties.

Israel imports 43 percent of its natural gas from Egypt. Jordan imports 80 percent of its needs.

(Source: UPI )
(Source: Quotemedia)

Follow iStockAnalyst on Twitter Follow iStockAnalyst on Twitter
Subscribe to Email Alerts

Comments Closed





Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.