Egypt continues to supply Israel with natural gas despite its political unrest
Special Correspondent
Jan. 30, 2011

Egypt continues to supply Israel with natural gas despite its political unrest, and the government is prepared for possible disruptions, an Israeli Infrastructure Ministry statement.

Stocks in Tel Aviv suffered in response to the demonstrations in Egypt, and companies exposed to Egypt saw their shares decline (Ampal American Israel Corp. saw a 17 percent drop).

Ampal owns 12.5 percent of East Mediterranean Gas (EMG), a joint Egyptian-Israeli firm that supplies an estimated 2.1 billion cubic meters of natural gas to Israel annually. In December 2010, EMG signed agreements worth around $10 billion to sell natural gas to five Israeli companies, including Oil Refineries, whose shares fell 5.1 percent.

Egypt continues to supply Israel with natural gas despite its political unrest
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