Source: Ampal-Americal Israel Corporation
Ampal-American Israel Corporation (Nasdaq: AMPL) was advised by East Mediterranean Gas Co. (EMG), in which Ampal has a 12.5% interest, that while resuming commercial gas supply by GASCO (the Egyptian gas transport company) to EMG and its Israeli customers, a leak was discovered when the gas pressure exceeded 60 bars.
The GASCO field team is currently working to repair the leak in its system.
Consequently, commercial gas supply to Israel, Jordan, Lebanon and Syria as well as to major Egyptian cement industries and power gas consumers in the Sinai Peninsula awaits completion of repair.
Delayed multiple times, the GASCO’s pipeline that was damaged in an explosion and fire on February 5, 2011.