{"id":632746,"date":"2018-02-19T04:31:03","date_gmt":"2018-02-19T04:31:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/"},"modified":"2018-02-19T04:31:03","modified_gmt":"2018-02-19T04:31:03","slug":"did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/","title":{"rendered":"Did an Egyptian court really order EGPC and EGAS to pay EMG USD 1.03 bn in damages?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Did an Egyptian court really order EGPC and EGAS to pay EMG founder USD 1.03 bn in damages?<\/strong> <a href=\"http:\/\/www.globes.co.il\/en\/article-egyptian-court-rules-gas-cos-must-pay-emg-$1033b-1001224254\">Israeli newspaper Globes<\/a> is claiming that a Cairo court ordered state energy companies EGPC and EGAS to pay Israeli businessman Josef Maiman, who co-founded East Mediterranean Gas (EMG) with Hussein Salim, USD 1.03 bn in damages after EMG was forced to halt shipments of gas to Israeli Electric back in 2013. The liquidator for Ampal-American Israel Corporation, the Israeli company which owned a 12% stake in EMG, said: \u201cWe now expect other arbitration institutions (ICSID and UNCITRAL) that previously decided in favor of EMG to issue rulings on compensation.\u201d The International Centre for Settlement of Investment Disputes (ICSID) <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/05\/icsid-rules-against-egypt-in-natural-gas-dispute-ampal-says-egypt-needs-to-pay-up\/\">had ruled in March 2017<\/a> that Egypt\u2019s revocation of the tax exemption status of the EMG project until 2025 \u2014 afforded to it under the private free zones system \u2014 to be tantamount to expropriation and in breach of the bilateral investment treaty. Globes made sure to note that Maiman had filed the litigation in Egyptian court as a Polish citizen.<\/p>\n<p><strong>Barriers to gas imports from Israel: <\/strong>The reported ruling comes amid a dispute between Cairo and Tel Aviv over <a href=\"https:\/\/www.reuters.com\/article\/us-iec-egypt-natgas-appeal\/egypt-to-appeal-1-76-billion-award-to-israel-in-gas-dispute-freeze-gas-import-talks-idUSKBN0TP0HL20151206\">a USD 1.76 bn International Chamber of Commerce arbitration<\/a> award won by Israeli Electric against EGAS, EGPC and EMG. Prime Minister Sherif Ismail has said there will be no discussion of importing Israeli gas for liquefaction and export from Egypt until outstanding litigation is settled.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Did an Egyptian court really order EGPC and EGAS to pay EMG founder USD 1.03 bn in damages? Israeli newspaper Globes is claiming that a Cairo court ordered state energy companies EGPC and EGAS to pay Israeli businessman Josef Maiman, who co-founded East Mediterranean Gas (EMG) with Hussein Salim, USD 1.03 bn in damages after [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-632746","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"36113f50-d247-4051-a803-4340c0d0c816","order":"0","is_powered_by":true,"section_story_id":"194f9b5d-1eea-44f5-9418-68629336aed0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[632728],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Did an Egyptian court really order EGPC and EGAS to pay EMG USD 1.03 bn in damages? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Did an Egyptian court really order EGPC and EGAS to pay EMG USD 1.03 bn in damages?\" \/>\n<meta property=\"og:description\" content=\"Did an Egyptian court really order EGPC and EGAS to pay EMG founder USD 1.03 bn in damages? Israeli newspaper Globes is claiming that a Cairo court ordered state energy companies EGPC and EGAS to pay Israeli businessman Josef Maiman, who co-founded East Mediterranean Gas (EMG) with Hussein Salim, USD 1.03 bn in damages after [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-19T04:31:03+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Did an Egyptian court really order EGPC and EGAS to pay EMG USD 1.03 bn in damages?\",\"datePublished\":\"2018-02-19T04:31:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/\"},\"wordCount\":249,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/did-an-egyptian-court-really-order-egpc-and-egas-to-pay-emg-usd-1-03-bn-in-damages\/\",\"name\":\"Did an Egyptian court really order EGPC and EGAS to pay EMG USD 1.03 bn in damages? 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PTT alleges that Egypt failed to meet gas\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/775.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632796,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/20\/dolphinus-reportedly-signs-usd-15-bn-natural-gas-agreement-with-israel\/","url_meta":{"origin":632746,"position":1},"title":"Dolphinus reportedly signs USD 15 bn natural gas agreement with Israel","author":"enterpriseam admin","date":"20 February 2018","format":false,"excerpt":"Egypt just became the region\u2019s premier energy hub. Delek Drilling and Noble Energy announced signing two binding agreements to export gas from Israel to Egypt via Dolphinus Holdings, according to Globes. \u201cEgypt is becoming a real gas hub \u2026 This [agreement] is the first [transaction] of potentially more to come,\u201d\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594772,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/08\/more-holdups-for-israels-gas-exports-to-egypt\/","url_meta":{"origin":632746,"position":2},"title":"More holdups for Israel\u2019s gas exports to Egypt?","author":"enterpriseam admin","date":"8 September 2019","format":false,"excerpt":"More holdups for Israel\u2019s gas exports to Egypt? A USD 1 bn lawsuit brought against the government by Thai state-owned energy company PTT Energy for allegedly failing to meet gas deliveries to Egyptian Mediterranean Gas (EMG) after 2011 could threaten to further delay exports of Israeli gas to Egypt, Jared\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/775.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622425,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/","url_meta":{"origin":632746,"position":3},"title":"EMG, Israeli Electric are withdrawing arbitration cases against Egypt","author":"enterpriseam admin","date":"1 October 2018","format":false,"excerpt":"EMG, IEC have begun withdrawing arbitration cases against Egypt: East Mediterranean Gas (EMG) and Israel Electric Corporation have officially begun proceedings to drop their international arbitration case against state energy companies EGPC and EGAS, according to Oil Ministry sources. 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The settlement, awarded\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592679,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/delek-consortium-egypts-east-gas-acquire-39-stake-of-emg-pipeline\/","url_meta":{"origin":632746,"position":5},"title":"Delek consortium, Egypt\u2019s East Gas acquire 39% stake of EMG pipeline","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"EMG ownership transferred to Delek, Noble and East Gas: Ownership of the East Mediterranean Gas (EMG) subsea pipeline that runs between Egypt and Israel has been transferred to Israel\u2019s Delek Drilling, Texas-based Noble Energy and Egypt\u2019s East Gas, Bloomberg reports. The move brings us one (very significant) step closer to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/1\/723.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=632746"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632746\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/632728"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=632746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=632746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=632746"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=632746"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=632746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}