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Sunday, 24 April 2011 - Egypt orders ex-energy minister, former officials tried |
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    Edition: U.S. Article Comments (0) Full Focus Photos of the week Our top photos from the past week.  Full Article  Follow Reuters Facebook Twitter RSS YouTube Read St. Louis airport closed after storm, homes flattened 4:14pm EDT Thai-Cambodia fighting disrupts border ties 11:47am EDT Samsung counter sues Apple over iPhone, iPad 22 Apr 2011 Wal-Mart tests online grocery delivery in California 1:07pm EDT Libya troops retreat in Misrata, rebels claim victory | 3:15pm EDT Discussed 7 Yemeni opposition conditionally welcomes Gulf plan Factbox: International reaction to Syria’s crackdown Charity says children raped during Libya conflict Watched McCain visits Benghazi Fri, Apr 22 2011 Nissan checks cars for radiation Fri, Apr 22 2011 NATO hits near Gaddafi compound 2:46am EDT Egypt orders ex-energy minister, former officials tried Tweet Share this By Sami Aboudi CAIRO (Reuters) - Egypt on Saturday ordered former energy minister Sameh Fahmy and six other officials to stand trial on charges related to a natural gas deal with Israel, the public prosecutor said. The decision is part of a... Email Print Related News Crowds rally in Yemen for and against Saleh Fri, Apr 22 2011 Egypt detains ex-energy minister for questioning Thu, Apr 21 2011 Special Report: China set to unearth shale power Wed, Apr 20 2011 Analysis: Oil companies go solar to tap hard-to-get supplies Mon, Apr 18 2011 Yemen forces fire on Sanaa protest march, 22 hurt Sun, Apr 17 2011 Analysis & Opinion Markets Weekahead: Derivatives expiry, oil to fuel volatility Fracking leak hands Earth Day gift to green energy Related Topics World » Egypt » By Sami Aboudi CAIRO | Sat Apr 23, 2011 4:25pm EDT CAIRO (Reuters) - Egypt on Saturday ordered former energy minister Sameh Fahmy and six other officials to stand trial on charges related to a natural gas deal with Israel, the public prosecutor said. The decision is part of a crackdown on graft during the 30-year rule of deposed President Hosni Mubarak by the government appointed by the military generals who now rule Egypt. A statement from the prosecutor said the officials, who were ordered detained earlier this week, would be tried at a criminal court in Cairo at a date to be decided later. It said they were charged with "committing the crimes of harming the country's interests, squandering public funds and enabling others to make financial profits through selling and exporting Egyptian gas to the state of Israel at a low price below international market rates at the time of the contract." The statement said the deal in question caused Egypt losses worth more than $714 million and enabled a local businessman, also indicted in the same case but at large, to make financial profits. Israel gets 40 percent of its natural gas from Egypt under an arrangement put in place after a 1979 peace deal. Opposition groups have long complained gas was being sold at preferential prices and East Mediterranean Gas (EMG), the company which supplies it, violated bureaucratic regulations. An official at Merhav, an Israeli firm that is a partner in EMG, had denied any wrongdoing. The military-backed interim government is under pressure to kick start an economy that was hit hard by the popular uprising that swept Mubarak from power. Egypt's new government has said it would review natural gas contracts with other states, including Israel and Jordan, which could boost the government's income by $3-4 billion. Newly appointed Petroleum Minister Abdullah Ghorab said last month Egypt was trying to amend gas export deals with a number of countries, particularly Israel. He said public disapproval of the gas exports was sufficient reason to negotiate better terms. Previous governments had insisted the natural gas deals were fair. Egypt is a modest gas exporter, using pipelines to export to Israel, Jordan and other regional countries. It also exports liquefied natural gas via facilities on its Mediterranean coast. World Egypt Tweet this Share this Link this Digg this Email Reprints   We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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