Egypt , Israeli Gas Contract dispute
Egypt has terminated its natural gas supply to Israel in what it is being called a “business” dispute rather than a diplomatic dispute. The termination of the deal with Israel follows a series of attacks on the Arab Gas Pipeline.
Ampal-American Israel Corp., which holds a 12.5% stake in EMG, said in a press release it had been advised by EMG that EGPC and EGAS notified EMG that they were terminating the Gas Supply and Purchase Agreement (GSPA) between the parties. East Mediterranean Gas Co. (EMG) believes the termination of the contract is unlawful and in bad faith and consequently demanded its withdrawal.