Cairo – Mubasher: The Egyptian General Petroleum Corporation (EGPC) said Sunday it along with EGAS and legal advisor Shearman & Sterling LLP will take necessary legal steps to appeal an order by an international arbitrator to pay Israel $1.76 billion for halting gas supplies.
Israel's state-owned electric utility said Sunday Egyptian natural gas company EGAS and EGPC will pay it compensation of $1.76 billion for halting gas supplies.
The Israeli company said it suffered heavy damages after gas supplies were halted and that it was forced to buy more expensive fuel to generate electricity, raising its costs
