Egypt To Pay Israel $1.76 Billion For Halting Gas Supplies

Israel Electric Corp , Israel’s state-owned electric utility, said on Sunday Egyptian natural gas companies will pay compensation of $1.76 billion for halting gas supplies.

Egypt had been selling natural gas to Israel under a 20-year agreement, but the deal collapsed in 2012 after months of attacks on the pipeline by militants in Egypt’s Sinai peninsula.

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