Repairs continue on Egyptian pipeline, natural gas supply to Israel expected to resume within the week

Source: Ampal-American Israel Corp.

Ampal-American Israel Corporation (Nasdaq: AMPL) was advised by East Mediterranean Gas Co. (EMG) that the gas supply to EMG, and therefore to EMG’s Israeli Clients, is expected to resume no later than March 4, 2011. Ampal has a 12.5% interest in EMG. 

The Egyptian National Gas Company (EGAS) informed EMG that repair works on the Egyptian gas transport company GASCO's pipeline system are continuing, following a fire that shut-down the system in early February. Testing of the pipeline will start on Monday, March 2, 2011; and the target date for commercial gas delivery is no later than Friday, March 4, 2011. 

A small portion of a GASCO pipeline serving EMG was damaged as a result of an explosion and subsequent fire in a metering station along a separate GASCO owned and operated gas pipeline from Egypt to Jordan. As previously announced, neither EMG's site nor EMG's pipeline were damaged as the affected GASCO station is not a part of the EMG pipeline system and is located some 30 kilometers (about 18.6 miles) from the EMG site.

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