Friday, 05 August 2011 16:06

Crude Fights between Egypt and Israel

The fight between this two countries of the Near East, Egypt and Israel, is part of the history. The religious and the political points of view were always a great cause for their misunderstanding. But now, this fight influences also the industry and economy of both nations.

The EMG, who built the pipeline via the El Arish to Ashkelon for $500 millions, buys natural gas from the Egyptian National Gas Co. But this simple trader process is still under the influence of the political relationship between Egypt and Israel.

On the one side, there is the in-stable Egyptian government, on the other the contradistinction between these nations. And of course, Israel's need of crude oil. According to BMI “The unpopularity of the gas supply deal between the two countries makes further attacks inevitable, suggesting it may be time for Israel to step up the search for other sources of gas”.

However, the pipeline crosses the El-Arish area in the northern Sinai, where the fifth attack on it, occurred. Egyptian reporter claim about four armed, masked men, who blew up the gas terminal and escaped without a trace.

This attack, the fifth this year, brought Israel a damage of millions of dollars.

Source: http://www.ogj.com/articles/2011/08/egypt-israel-gas-pipeline-attacked-for-5th-time-this-year.html?utm_source=twitterfeed&utm_medium=twitter

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