Negotiations seeking to increase the gas price regulated by the Ministry of Petroleum and countries that import Egyptian gas are approaching their end said Minister of Petroleum Mohammed Ghorab. Ghorab denied finishing the final draft, which would modify gas prices exported to Israel. Ghorab told Youm7, the ministry has not ceased negotiating with companies to modify gas contracts. Negotiations with the East Mediterranean Gas Company, which manages the pipeline linking Egypt to Israel, were suspended due to political events. Sources in Ministry said negotiations stopped after an Israeli helicopter killed six Israeli soldiers in August. According to sources, negotiations still stumbled on the issue of suspending Israel's gas supply to Israel, as gas pipelines have been objects of sabotage. Sources said an electric Israeli company sued Egypt in an international court as the result of gas stoppages for more than 200 days in 2011. The stoppages forced the company to buy other gas, which drove up electricity prices 10 percent.
