A Swiss court issued a ruling obliging Egypt to pay a compensation of $2bn to Ampal-American Israel Corporation for the damage caused by the cessation of the export of natural gas from Egypt to Israel in 2012. He pointed out that the decision to stop exporting gas to Israel was correct, even if Egypt paid the compensation. He noted that the $2bn is equivalent to the gap in exporting gas for less than a year if Egypt continued exporting gas at this low price. The court said that the Egyptian General Petroleum Corporation (EGPC) and Egypt Gas are responsible for the attacks on the gas pipeline, which passes through the Sinai desert to Israel, according to the Israeli Electricity Company. Although Egypt challenged the ruling of the International Chamber of Commerce, the verdict this time cannot be challenged.

Source: Daily News Egypt April 30, 2017 11:15 UTC