InfoAnda - Israel has options to overcome loss of Egyptian gas |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

iRobot sets path to Latin America, China: CEO | | 8 June 2011
Peugeot board sacks boss Streiff | 30 March 2009
Afghan leader to push for access to Taliban in Pakistan | | 14 February 2012

Van Halen postpone more than 30 concert dates | | 18 May 2012

Forum Views () Forum Replies ()

Read more with google mobile : Israel has options to overcome loss of Egyptian gas |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Fred Kempe Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Full Focus Editor's choice Our best photos from the last 24 hours. Full Article Images of March Follow Reuters Facebook Twitter RSS YouTube Read Dutch coalition to quit in budget row-broadcasters 6:50am EDT Hollande edges Sarkozy in French vote, Le Pen surges 22 Apr 2012 GM CEO says to add 600 China dealers in 2012 6:52am EDT Norway killer picked victims who had "leftist" look | 8:57am EDT Chinese President Hu lauds North Korea ties despite tension | 9:49am EDT Discussed 184 Trayvon Martin’s killer showed signs of injury: neighbors 96 Nugent says had ”solid” meeting with Secret Service 88 Human-made earthquakes reported in central U.S Watched Kent State University festival ends in clashes Sun, Apr 22 2012 Gunfire rings out in Syria Sun, Apr 22 2012 North Korea 'special action' threat 6:34am EDT Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Weird world records From who can wear the most bees to who can unicycle the longest. Slideshow Protests in Bahrain Anti-government demonstrations continue in Bahrain. Slideshow Israel has options to overcome loss of Egyptian gas Tweet Share this Email Print Related News UPDATE 2-Egypt cancels gas deal with Israel Sun, Apr 22 2012 African migrants flood Israel after perilous treks Fri, Apr 20 2012 Argentina moves to seize control of Repsol's YPF Tue, Apr 17 2012 Natgas plummets to 10-year low Wed, Apr 11 2012 Special Report: In Egypt's military, a march for change Tue, Apr 10 2012 Analysis & Opinion Egyptian MPs demand that Grand Mufti Ali Gomaa quit over Jerusalem trip Occupy defined-benefit pension funds! Related Topics World » Egypt » Israel » By Ari Rabinovitch JERUSALEM | Mon Apr 23, 2012 11:32am EDT JERUSALEM (Reuters) - Israel's energy sector will be hurt in the short term by Egypt's decision to stop selling it natural gas, but the country has been weaning itself off the once-crucial supplies and has a number of contingency plans that will lessen the impact. Sunday's announcement that Egyptian state-owned oil and gas companies would stop the gas sales, which were part of a 20-year deal, was the dramatic conclusion to a year of sabotage and pipeline attacks that had already disrupted supplies. "It's an unfortunate announcement, but in no way is it a surprise. It sums up a reality that has existed for more than a year," Israeli Energy Minister Uzi Landau told Reuters. "Nearly two years now we have been preparing for a halt in supplies. So, while it causes great discomfort and will bring a rise in energy prices, Israel has been developing its energy market without depending on this gas," he said. The gas deal, signed in 2005, was the most significant economic agreement to emerge from the historic Israeli-Egyptian peace treaty of 1979. But ties have been strained since Egyptian President Hosni Mubarak, an advocate of the peace deal, was toppled by a popular revolt last year. To avoid further tension, Israel's leaders have described Egypt's move to stop supplying gas as a business, rather than diplomatic, decision. Egyptian officials also said ending the contract was a trade issue. Gas from Egypt once accounted for about 40 percent of Israel's reserves of natural gas, the country's primary energy source. But with pipeline attacks in Egypt's Sinai peninsula stopping flows for most of 2012, Israel has looked elsewhere. Its own newly discovered reserves from huge offshore gas fields will secure Israel's energy needs for decades, even making it an exporter, but the first field, Tamar, will only come on line around April 2013. The even larger Leviathan prospect is due to begin production around 2017. STOP-GAP SOLUTIONS In the meantime, the government is rushing construction of an off-shore liquefied natural gas terminal to receive imports, has told exploration firms to speed up drilling on smaller, more accessible fields, and is planning to import a fleet of portable generators to prevent blackouts this summer. Israel's electric utility - without Egyptian gas and with the country's sole working gas field nearly depleted - has turned to more expensive and dirtier fuels like diesel and fuel oil, causing electricity prices to surge. The mostly underwater pipeline at the centre of the matter was built and is operated by the Eastern Mediterranean Gas Co (EMG), whose shareholders include Egypt Natural Gas Co, Thai energy giant PTT, U.S. businessman Sam Zell, Israel's Merhav and Ampal-American Israel Corp. In 2010, EMG provided 2.5 billion cubic meters (BCM) of gas to Israeli customers. But that number was expected to more than double throughout the 20-year deal. Once the pipeline attacks began, Ampal, together with PTT and Zell, took legal action against the Egyptian government, seeking $8 billion in damages for not safeguarding their investment. One official with knowledge of the affair told Reuters, on condition of anonymity, that Egypt's latest decision could be a manoeuvre to help it in the legal proceedings. Ampal's stock closed down 19.2 percent in Tel Aviv to 0.775 shekels, a new 52-week low. In the past year, with supplies from Egypt stopped for more than 200 days, Israeli power plants and major industrial players have signed multi-billion dollar contracts to buy gas from the offshore Tamar field. So Sunday's announcement was a good one for the Tamar consortium, led by Texas-based Noble Energy and Israel's Delek Energy, said UBS analyst Roni Biron. "Most companies are not looking at Egypt as a reliable source of gas due to the repeated attacks on the pipeline and the geopolitical landscape, so you can't base a work plan on such unpredictable gas flows," he said. (Additional reporting by Steven Scheer; Editing by Tova Cohen and Helen Massy-Beresford) World Egypt Israel Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us 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.

Other News on Monday, 23 April 2012
Merkel's FDP ally eyes poll comeback, doubts persist |
Egypt's Moussa promises army voice in key policy body |
Afghanistan and U.S. agree on strategic pact text |
Former Iceland PM to learn if guilty in 2008 crisis |
Sri Lanka orders mosque move after Buddhist protest |
Peru's Humala gains in poll on kidnap, mine rescues |
South Sudan accuses Sudan of bombings, Khartoum denies |
Israel intercepts ship for weapons search |
New U.S. literary tourism: read it, watch it, live it |
Gay media group honors Chaz Bono, Betty White |
Neil Diamond marries for third time |
Bee Gee Robin Gibb came close to death: doctors |
French far right holds balance after Hollande edges Sarkozy |
Obama to cite new technologies in rights abuses: report |
Former Iceland PM to learn if guilty in 2008 crisis |
Dutch coalition teeters over cuts as EU pact struggles |
Saudi diplomat may be freed soon: Yemeni tribal head |
China policy battles boost South China Sea strains |
Sudan bombs South Sudan border area, kills 3
Obama to cite new technologies in rights abuses: report |
ST-Ericsson delays strategy announcement to later Monday |
China's ZTE to sell 100 million smartphones a year by 2015 |
New literary tourism: read it, watch it, live it |
Victoria Beckham turns designer hand to cars |
Global pirate attacks down in first quarter, Nigeria risk grows |
Bosnia charges three with attack on U.S. embassy |
Medvedev pardons one of 32 political prisoners |
Dutch coalition offers to resign in budget cuts row |
Exclusive: Half Iran tanker fleet storing oil at sea |
EU suspends most Myanmar sanctions, not arms ban |
Greek election a puzzle that could derail bailout |
Hama shelling undermines Syria truce |
Israel has options to overcome loss of Egyptian gas |
Granny Nav to guide elderly drivers on the road |
Boss of UK's Sky News reprimanded over email hacking |
Insight: Outsider Ren pits Huawei against the world |
China Internet firms face venture capital funding squeeze |
China's Alibaba.com Q1 profit slumps 25 percent |
ST-Ericsson to cut 1,700 jobs, pass on key unit to STM |
Investors check out on bland Check Point outlook |
Apps forecast where storm clouds are gathering |
Maori Troilus and Cressida opens Shakespeare season |
Shakespeare in Jericho echoes year of Arab strife |
James Cameron eyes co-production projects in China |
DJs battle with dance music dominance in U.S. pop music |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01