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Tuesday, June 18, 2019 9:41 GMT
Egypt has signed a US$500 million settlement with state-owned Israel Electric Corp over a defunct natural gas deal, the Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas (EGAS) said in a statement on Sunday. The statement said under the agreement signed on Sunday, Egypt will pay the amount over a period of 8-1/2 years in exchange for the Israeli company dropping all other claims resulting from a 2015 arbitration decision. The International Chamber of Commerce in 2015...More