Egyptian government decided to freeze its imports from the Israeli fields after the recent arbitration ruling against Egypt, Al Sherouk News reported on Tuesday. The international arbitration ruled to fine the Egyptian government $1.76 billion for suspending its gas exports to Israel in 2011 after the ousting of former President Hosni Mubarak. According to unidentified source, the Egyptian government held a meeting with the Egyptian companies to express its refusal to importing gas from Israel, if the Israeli side insisted to resume its measures against Egypt. Egypt was selling gas to Israel upon a 20-year contract signed during Mubarak's era. The deal raised a state of controversy among the Egyptians due to its cheap price if compared to the gas prices in the international market. The government suspended its gas supplies to Israel in 2011 after the consecutive bombings that targeted the pipeline in Arish. Alaa Arafa, Egyptian businessman and founder of the Egyptian Delphinus Holdings, stressed Egypt's right to take any measures to react the veredict, while he did not make any statement over his company's negotiations with Israel. The Egyptian government, on its hand, revealed that it will take steps to appeal against the ruling, depending on three main factors. The Israeli electricity company has no right to file the case against the Egyptian government, said petroleum expert Ibrahim Zahran, saying that the Egyptian government contracted with East Mediterranean Gas Company (EMG). He stressed that it is the only body that has the right to take such measures. He added that the Israeli company took its measures against Egypt in 2011, while the Egyptian gas supplies to Israel have been suspended in May 2012. He clarified that the Israeli measure itself to turn to Geneva Center violated the contract between the two countries. The contract between Egypt and Israel stipulates that the two countries should turn to Cairo Center for Arbitration. On the other hand, the Israeli petroleum experts expressed their concern over the Egyptian decision to freeze its negotiations to import the Israeli gas, describing it as a slab for Netanyahu government and its efforts to sell the Israeli gas. The Israeli efforts aim to sell the gas from its territories to Europe through Egypt, according to Israel's calcalist newspaper, saying that Tel Aviv could turn to give up the compensation just to pass its plan that strongly depends on Egypt. Israeli expert Doroon Beskaf said that if the Egyptian government decided to suspend its negotiations with Israeli, it would undermine the Israeli vision. He said that the Israeli plan is considered one of the major cards in the hand of the Egyptian government to pressure Israel in this regard.
