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Egyptian court halts gas exports to Israel

Amid a public outcry, Egyptian judges decided that the fixed-price contract signed in 2005 is unfair because the price of natural gas has gone up since then. Quite certainly, the Egyptians would have resisted any price review if the price went down from the 2005 level. In Arab eyes, any contract is worthless; think of the peace treaty.

The Israeli monopoly on power generation kept increased electricity prices despite purchasing gas at a fixed price.

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