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Energy consortium suing Egypt over pipeline blasts

Energy consortium suing Egypt over pipeline blasts

An Israeli board member of a Cairo-based energy company that delivers natural gas to Israel says shareholders are seeking more than $8 billion in damages from the Egyptian government over attacks on the gas pipeline.
Four attacks, which began at the time of Egypt's revolution in February, have repeatedly disrupted the flow of natural gas to Israel. The most recent blast occurred early Tuesday.
Nimrod Novik, a board member of East Mediterranean Gas, says shareholders are concerned with "repeated terrorists' successes" in upsetting gas deliveries.
He says the company has sought damages in the international court of arbitration in Washington.
EMG is a consortium with Israeli, Thai and Egyptian partners.
Egypt's government had no comment.


Updated : 2021-06-24 13:21 GMT+08:00