Egypt has resumed deliveries of natural gas to Israel and Jordan, but the price of the energy commodity may soon be doubled.
Six weeks ago the supply was abruptly halted when terrorists blew up the pipeline in the Sinai Peninsula. Several attempts to repair the line were stymied at the last minute, preventing deliveries of gas not only to Israel and Jordan, but also to Syria and Lebanon.
Egypt informed Jordan two days ago that the price of the gas will jump from $3 to $6-7 per million btu, “reflecting market prices,” the Globes business news agency reported on Wednesday.
Israeli consumers are wondering if the Jewish State will face a similar price hike.
Eastern Mediterranean Gas (EMG), the Egyptian supplier, holds a $15 billion contract to supply natural gas to the Israel Electric Corporation (IEC), as well as the private power company Dorad and several smaller firms.
IEC and IC buy their gas from EMG at $4-5 per million btu.