East Mediterranean Gas Company (EMG) today told its customers that it is gradually resuming gas supplies starting tomorrow.
The supply was cut off on February 5, shortly after the Egyptian uprising began, following a terror attack on the pipeline between Suez and El Arish. Since then EMG has five times announced the resumption of supplies only to postpone the date.
EMG built the gas pipeline from El Arish in the Sinai to Ashkelon in 2008 at a cost of $460 million.
Merhav Group, whose owner Yosef Maimon owns 20.5% of EMG inlcuding 12.5% through Ampal-American Israel Corporation (Nasdaq: AMPL; TASE:AMPL), confirmed that it had been notified that Egyptian gas supplies will be gradually restarted from Monday.
Published by Globes, Israel business news - www.globes-online.com - on March 13, 2011
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