A gas terminal in Egypt's northern Sinai after an attack. (AP Photo/Ashraf Swailem, File)
Egypt says it has struck a deal with the state-owned Israel Electric Corporation to settle a fine for halting deliveries of natural gas.
By Associated Press
A statement from Egypt’s Petroleum Ministry said a settlement deal with the Israel Electric Corporation, which was signed Sunday, would reduce a $1.7 billion fine to $500 million.
According to the statement, Egypt will pay the amount over eight and a half years.
In return, the Israeli company will drop other claims resulting from a 2015 arbitration decision.
Israel Electric had sued the state-owned Egyptian General Petroleum Corporation and Egyptian Natural Gas after a 2005 deal to export natural gas to Israel collapsed in 2012 amid terror attacks on a pipeline in the Sinai Peninsula, where Egypt has been battling factions like ISIS and Al-Qaeda for years.
Israel relied on the pipeline to meet its energy needs.
Proposed coalition would also need Shas support, despite its endorsement of Netanyahu.
The agency last estimated Iran held over 440 kilograms of uranium enriched to 60% purity.
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