{"id":649328,"date":"2017-04-30T04:04:32","date_gmt":"2017-04-30T04:04:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/"},"modified":"2017-04-30T04:04:32","modified_gmt":"2017-04-30T04:04:32","slug":"swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/","title":{"rendered":"Swiss court rules that Egypt must pay Israel Electric USD 2 bn"},"content":{"rendered":"

<\/a> Swiss court rules that Egypt must pay Israel Electric USD 2 bn:<\/strong> A Swiss court has rejected an appeal by EGAS and the EGPC to overturn a French court\u2019s decision last year ordering them to pay USD 2 bn in compensation to Israel Electric Corporation (IEC) for halting gas supplied to it back in 2012, the company said on Friday, according to reports in Reuters<\/a> and Bloomberg<\/a>. Egypt had ended the 20-year agreement with IEC due to repeated attacks on pipelines supplying the gas in Sinai. An international arbitrator said Egypt should pay nearly USD 1.76 bn in compensation because of the halt in the gas supply. While there was no official response from the Oil Ministry, government sources tell Al Borsa<\/a> that Egypt plans to enter into talks with Israel to reach a resolution before any decision is taken on the matter. The court decision may add fuel (no pun intended) to the dispute and could complicate any plans for Egypt to import gas from Israel<\/strong> as Prime Minister Sherif Ismail \u2014 a key supporter of turning Egypt into a regional energy hub \u2014 had made dropping the claim<\/a> a condition for allowing the import of natural gas from our eastern neighbor. The decision is also interesting in light of unconfirmed rumors<\/a> that Alaa Arafa\u2019s Dolphinus again in talks with Israeli energy companies to import gas from the Israel\u2019s Tamar field.<\/p>\n","protected":false},"excerpt":{"rendered":"

Swiss court rules that Egypt must pay Israel Electric USD 2 bn: A Swiss court has rejected an appeal by EGAS and the EGPC to overturn a French court\u2019s decision last year ordering them to pay USD 2 bn in compensation to Israel Electric Corporation (IEC) for halting gas supplied to it back in 2012, […]<\/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-649328","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2a9fa535-434e-4349-b899-466fe260784c","order":"0","is_powered_by":true,"section_story_id":"585fd938-4f9c-40ca-aaa8-2f49f44c6eef","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649320],"teaser":"","voice_url":""},"yoast_head":"\nSwiss court rules that Egypt must pay Israel Electric USD 2 bn - 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\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swiss court rules that Egypt must pay Israel Electric USD 2 bn\" \/>\n<meta property=\"og:description\" content=\"Swiss court rules that Egypt must pay Israel Electric USD 2 bn: A Swiss court has rejected an appeal by EGAS and the EGPC to overturn a French court\u2019s decision last year ordering them to pay USD 2 bn in compensation to Israel Electric Corporation (IEC) for halting gas supplied to it back in 2012, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-30T04:04:32+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\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Swiss court rules that Egypt must pay Israel Electric USD 2 bn\",\"datePublished\":\"2017-04-30T04:04:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/\"},\"wordCount\":240,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/swiss-court-rules-that-egypt-must-pay-israel-electric-usd-2-bn\/\",\"name\":\"Swiss court rules that Egypt must pay Israel Electric USD 2 bn - 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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\u2026","rel":"","context":"In "Speed Round"","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":603085,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/egypt-and-israel-to-settle-gas-arbitration-in-coming-months\/","url_meta":{"origin":649328,"position":1},"title":"Egypt and Israel to settle gas arbitration in coming months","author":"enterpriseam admin","date":"15 April 2019","format":false,"excerpt":"A resolution to the nearly USD 1.8 bn Egypt-Israel natgas arbitration case seems to be within arm\u2019s reach, if statements from Israeli Energy Minister Yuval Steinitz to Reuters are anything to go by. \u201cI think there is already a final understanding, but it needs approval of the Israeli electric authority\u2026","rel":"","context":"In "Speed Round"","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":637837,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/27\/egypt-is-open-to-buying-natural-gas-from-israel-sources\/","url_meta":{"origin":649328,"position":2},"title":"Egypt is open to buying natural gas from Israel -sources","author":"enterpriseam admin","date":"27 November 2017","format":false,"excerpt":"Egypt is reportedly still open to buying natural gas from Israel, sources close to the matter tell Bloomberg. Israeli Energy Minister Yuval Steinitz spoke to Oil Minister Tarek El Molla last week, after the latter\u2019s interview with Bloomberg about Egypt reaching self-sufficiency and cutting state LNG imports by 2018 \u201csent\u2026","rel":"","context":"In "Speed Round"","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":633101,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/27\/israel-denies-it-is-making-concessions-on-the-intl-arbitration-award-against-egypt\/","url_meta":{"origin":649328,"position":3},"title":"Israel denies it is making concessions on the int\u2019l arbitration award against Egypt","author":"enterpriseam admin","date":"27 February 2018","format":false,"excerpt":"Israel denies it is making concessions on the int\u2019l gas arbitration award against Egypt\u2014have the two sides agreed just to gloss over it? 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