Egypt petroleum ministry keen to resolve gas export disputes: Official

Gas tanks are seen in the desert north of Cairo. (Reuters)
Updated 20 February 2018
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Egypt petroleum ministry keen to resolve gas export disputes: Official

CAIRO: Egypt’s petroleum ministry on Tuesday said that it was keen to resolve any gas export disputes.
Officials said Egypt was right to import gas “from Cyprus or from anywhere else” in its quest to become a regional energy hub. The statements followed Monday’s announcement of a $15 billion deal to export Israeli gas to Egypt.
Ministry spokesman Hamdi Abdel Aziz was quoted by local news website Masrawy saying “receiving gas from Israel is part of solutions to reach an agreement on disputes between companies before the international arbitration court.”
A Reuters report said on Monday that an Egyptian company would buy $15 billion of Israeli natural gas in two 10-year agreements.
The partners in Israel’s Tamar and Leviathan offshore gas fields said they would supply the private Egyptian firm Dolphinus Holdings with around 64 billion cubic meters of gas over a decade — with half coming from each field, and the proceeds shared equally.
Israeli Prime Minister Benjamin Netanyahu said the agreements would “strengthen our economy (and) strengthen regional ties.”
Israel’s Delek Group and Texas-based Noble Energy have led both gas projects.
“Egypt is becoming a real gas hub,” Yossi Abu, CEO of Delek unit Delek Drilling, told Reuters. “This deal is the first deal of potentially more to come.”
Egyptian Petroleum Minister Tarek El-Molla told the private Egyptian television channel “ON E that” outstanding disputes would have to be resolved for the deal to go through.
Molla’s comments refer to Egypt’s challenge to a 2015 ruling by the International Chamber of Commerce ordering the country to pay $2 billion in compensation after a deal to export gas to Israel via pipeline collapsed in 2012 due to months of attacks by insurgents in Egypt’s Sinai peninsula.
“We don’t mind importing gas from Israel, but we have terms in order (to allow) something like this to happen ... most importantly, the settlement of ongoing arbitration,” Molla said.
An Egyptian government official who declined to be identified said the deal did not mean Egypt itself would import any gas from abroad.
“International private companies will import gas from abroad in the framework of their own needs, and will liquefy and export them again,” the official said, without elaborating.


US intelligence says Huawei funded by Chinese state security: report

Updated 55 min 42 sec ago
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US intelligence says Huawei funded by Chinese state security: report

  • The accusation comes at a time of trade tensions between Washington and Beijing
  • Huawei dismissed the allegations

US intelligence has accused Huawei Technologies of being funded by Chinese state security, The Times said on Saturday, adding to the list of allegations faced by the Chinese technology company in the West.
The CIA accused Huawei of receiving funding from China’s National Security Commission, the People’s Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source.
Earlier this year, US intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report.
Huawei dismissed the allegations in a statement cited by the newspaper.
“Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources,” a Huawei representative told The Times.
The company, the CIA and Chinese state security agencies did not respond immediately to requests for comment.
The accusation comes at a time of trade tensions between Washington and Beijing and amid concerns in the United States that Huawei’s equipment could be used for espionage. The company has said the concerns are unfounded.
Authorities in the United States are probing Huawei for alleged sanctions violations.
Meng Wanzhou, Huawei’s chief financial officer and daughter of its founder, Ren Zhengfei, was arrested in Canada in December at the request of the United States on charges of bank and wire fraud in violation of US sanctions against Iran.
She denies wrongdoing and her father has previously said the arrest was “politically motivated.”
Amid such charges, top educational institutions in the West have recently severed ties with Huawei to avoid losing federal funding.
Another Chinese technology company, ZTE Corp. , has also been at the center of similar controversies in the United States.
US sanctions forced ZTE to stop most business between April and July last year after Commerce Department officials said it broke a pact and was caught illegally shipping US-origin goods to Iran and North Korea. The sanctions were lifted after ZTE paid $1.4 billion in penalties.
Reuters reported earlier this week that the United States will push its allies at a meeting in Prague next month to adopt shared security and policy measures that will make it more difficult for Huawei to dominate 5G telecommunications networks.