Egypt will soon finish drafting a new contract for gas exports to its neighbour Israel that includes a big increase in prices, the petroleum minister has told Ahram's Arabic portal. Gas supplies to Israel have been disrupted since the overthrow of President Mubarak in February by a series of attacks on the pipeline in the Sinai border region by assailants opposing the sale of gas to the Jewish state. Egypt's army-backed government, under popular pressure to toughen its stance towards Israel, has sought to renegotiate the terms of the gas deal, complaining that the previous agreement signed under Mubarak fixed prices below market rates. "The final draft related to amending the prices for exporting natural gas to Israel will be completed soon. It will see a big increase in the price," Petroleum Minister Abdullah Ghorab said. He added that new prices would be compatible with global standards but was unable to elaborate further, citing "secret negotiations." Gas supplies to Israel were still suspended after the latest attack on the pipeline in Sinai in late September, Ghorab said. Egypt is also seeking to renegotiate prices of gas exports to Jordan, which have also been disrupted by the attacks.
