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  • Egypt Unilaterally Breaks Off Gas Deal, Cairo breaks agreement that is part of the peace treaty

    04/22/2012 11:16:04 AM PDT · by Nachum · 38 replies
    inn ^ | 4/22/12 | Gil Ronen
    Egypt informed Israel Sunday afternoon that it is unilaterally cancelling the agreement of supply of gas to Israel. The announcement was made to EMG, the firm that receives the gas from Egypt, and reported on Channel 2 news. The peace treaty with Egypt includes a financial appendix, in which Egypt agrees to supply Israel with oil. Several years ago the appendix was changed so that the oil was replaced by gas. The treaty commits Egypt to supply Israel with the amount of gas it requires for a specified period, in exchange for payment.