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Source: www.gulfoilandgas.com 4/14/2011, Location: Africa
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Essam Sharaf, the new Prime Minister of Egypt has decided to revise Egyptian Natural Gas export contracts that had been signed with all countries including Jordan and Israel in order to achieve the highest return for Egypt.
Sharaf pointed out that revision can achieve 3 to 4 billion dollars increase in revenue to Egypt. Sharaf has received the Jordanian Energy Minister Khaled Tukan to study this subject and to discuss the cooperation with Jordan in the field of energy.
Egypt has 77 trillion cubic feet of gas reserves and is the main producer of the fuel in the eastern Mediterranean. The country exported 650 billion cubic feet in 2009, 30 percent of which went by the Arab gas pipeline to Jordan, Syria and Lebanon or via the El Arish-Ashkelon line to Israel.
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