Egypt will soon increase gas prices
to Jordan and Israel after both parties approved the plan, the north African
country's oil minister said Monday.
When asked by Zawya Dow Jones if both countries will oppose a price increase,
Abdallah Ghorab said: "no. Not at all."
He added: "As long as you have long-term contracts you have to put an
article that states you can review prices and both parties understand
that."
The minister's remarks come after accusations that the government of ousted
Egyptian President Hosni Mubarak had been selling gas to Jordan and Israel
below international market rates.
Earlier this month, saboteurs blew up part of the gas pipeline between Egypt,
Israel and Jordan forcing it to shut down. The attack is the sixth since a
popular uprising toppled Mubarak earlier this year.