CAIRO: A new gas deal between Egypt and Israel where gas is sold for a much higher price is on its way, Egypt's petroleum minister told reporters on Tuesday. The gas deal that existed under former Egyptian President Hosni Mubarak saw a lot of criticism as the gas was being sold at a much cheaper price than international rates. With the ousting of the regime, gas pipelines to Israel have been continuously attacked by a series of explosions believed to have been by Egyptians angered by the gas deal. After Mubarak stepped down, the controversial gas supply was temporarily halted, but has been intermittently functioning despite the attacks. “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,” al-Ahram reported, citing Petroleum Minister Abdullah Ghorab. Tension grew between Egypt and Israel after a group of angry Egyptians attacked the Israeli embassy in Cairo last month. The attack was a reaction to Israel killing 6 Egyptian security and military guards along the Sinai border. After the incident, the Israeli government refused to issue an official apology stating that it was an accident. The SCAF reacted by building a steel wall around the embassy, which was torn down on the same day of the embassy attack. The Israeli ambassador and staff evacuated the country hours after the attack and the SCAF promised it would take strict measures against those responsible for the attack, reactivating the controversial draconian laws. Egypt became the second biggest receiver of US aid in 1979 when it signed a peace treaty with Israel under former president Anwar Al-Sadat. BM
