Egypt owes Israel more than $1.7 billion for gas

Moscow. December 7. Egypt must pay United power company Israel $1.76 billion as compensation for the termination of gas supplies, reported the pan-Arab TV channel Al Jazeera.

Channel with reference to the decision of “international arbitration” reminds us that Israel according to the bilateral intergovernmental agreement was for 20 years to receive Egyptian gas. However, this agreement was in fact denounced by Egypt after several terrorist attacks and bombings of the gas pipeline in the Sinai Peninsula in 2012.

As a result, Israeli power stations were forced to switch to other, more expensive fuels for generation.