Israeli Gas Firms Seeking Egypt Gas Deals, Despite Call for Freeze


Israeli energy companies said on Monday they would pursue talks with potential natural gas importers in Egypt a day after Cairo called for a freeze in all negotiations until a separate arbitration case with Israel was settled.

Egypt had said on Sunday it would appeal an order by international arbitrators to pay $1.76 billion in compensation to state-owned Israel Electric Corp for halting gas supplies three years ago.

Israel’s Delek Group, which owns stakes in two large natural gas fields off Israel, and its partners said they were not involved in the arbitration case and were moving ahead with the process of securing export deals with commercial companies in Egypt, according to a statement to the Tel Aviv Stock Exchange.

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