| Perhaps the legislators would like some cheese with that whine? |
Under the terms of the proposed agreement, EGAS would supply Israel with 25.5 billion cubic meters of natural gas worth $2.5 billion over the next 15 years. However, talks foundered on the question of financial guarantees and tax exemptions requested by EMG. The Egyptian authorities have refused to comment on the talks. The deal hinges on $200 million-$300 million in bank guarantees sought by EMG and EGAS to finance the construction of a pipeline from Egypt to Israel.
Israeli Prime Minister Ariel Sharon has previously said he preferred to buy gas from Egypt rather than from a joint Palestinian Authority-British Gas company to stop the flow of money to terrorist organizations. Members of the Egyptian Parliament said that the deal acts as a sheer betrayal to the Palestinian cause. "This agreement is the worst in Egyptian history as it subverts the Palestinian intifada shows our surrender to what is happening in the occupied territories," said MP Muhammad Mursi. "We will stop that threat by filing a lawsuit against the Egyptian government as it is unconstitutional to sign a deal like that without the approval of the two houses of the Parliament," he told Arab News. Some 26 interpellations (serious questions that have to be answered by the government) have been already presented by members of the People's Assembly. They said that it was unconstitutional to sign the deal and it should be cancelled immediately.