Israel, Egypt Said Nearing Compromise on Natural Gas Dispute

Israel and Egypt are close to a compromise that would sweep away a major obstacle to a multibillion-dollar natural gas deal. (Bloomberg) – Israel and Egypt are close to a compromise that would sweep away a major obstacle to a multibillion-dollar natural gas deal. Israel may agree to settle for half of the $1.73 billion fine Egypt was ordered to pay it so talks on exporting Israeli offshore gas there can go ahead, two people familiar with the negotiations said, requesting anonymity because the talks are private. Payments would be spread over 14 years, one of the people said. Negotiations are still under way, and authorities in both countries would have to approve any final figure, the people familiar said. State-owned Israel Electric Corp., which had sought the award from Egypt, and the Egyptian Foreign Ministry declined to comment. Energy stocks climbed. Israel has painted gas exports to Egypt […]

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