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Israel threatens Egypt's income from Suez Canal and Sumid petroleum pipeline
Egypt-Israel, Economics, 4/5/1999
Israel started efforts that will negatively effect Egypt's income from the Suez Canal and Sumid pipeline for transferring petroleum to Europe.
Israel urged the European Union and Asian countries to use the Israeli pipeline which links Eilat harbor in the Gulf of Aqaba with Ashdoud on the Mediterranean Sea.
Israel offered large facilities for using its pipeline, which is linked to pumping networks and refineries inside Israel to facilitate the transportation of petroleum.
The Israeli plan started by agreeing with companies from South Africa that transport petroleum to Eilat from which Israel repumps it to other tankers in the Mediterranean Sea for shipment to Europe.
Israel currently transports petroleum imported from Egypt according to the signed peace agreement through a pipeline that can transport 45 million tons annually.
Previous Stories:
Trade deficit rises 43.1 percent reaching 45.2 billion pounds
(4/5/1999)
3 billion pounds to upgrade Sinai electricity network
(3/22/1999)
Israeli - Jordanian water crisis
(3/16/1999)
New Egyptian draft budget worth $28 billion
(2/24/1999)
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