Ampal

Ampal-American Israel Corp decided to write off its entire 12.5 per cent investment in East Mediterranean Gas, the company that sold Egyptian natural gas to Israel before Egypt called off the exports. Ampal is controlled by Israeli tycoon Yossi Maiman, who put his yacht up for sale this week, as a belt tightening measure.

Middle East / Levant / Israel

Egypt Halts Gas Supply to Israel, Concerns Over Future of Treaty Arise

By Malkah Fleisher

Despite major concerns being raised about the future of peace between Egypt and Israel in the wake of Egypt’s decision to terminate the a contract to provide natural gas to the Jewish State, Foreign Minister Avigdor Lieberman said Monday that he hopes the dispute will be solved in a business environment, and that relations between the two countries will return to normal.