Egypt to gain additional US$4 billion from higher prices of gas exported to Jordan and Israel
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Egyptian Prime Minister Essam Sharaf said that Egypt would reconsider the contracts for exporting natural gas to Israel and Jordan. This will enhance the country's revenues by 3 to 4 billion dollars per year. Sharaf was expected to discuss this issue during meeting with Jordanian Energy Minister Khaled Touqan on Thursday.
On his part, Dr. Ramadan Abu El Ela, the Professor of Petroleum at Suez Canal University and one of the leading activists against the the export of gas to Israel said he would not change his position, and will proceed with the legal procedures. Abul-Ela said Egypt suffered a loss of about EGP9 million a day due to the gas export to Israel in lower prices.
Abul-Ela stressed that he will continue to demand transparency and make sure Egyptian people get all the information in a timely manner. "The decision (by the government) is, unfortunately, too late and was the result of pressure and not studies. It should be implemented according to scientific studies and not under pressure, whether popular or legal," he said.
He explained that there is no law requiring Egypt to export gas to Israel because the contract between the EMG company, owned by businessman Hussein Salem and the Holding Company for Egyptian Gas was not been submitted to the Parliament.
Last month, a Kuwaiti newspaper has revealed secret documents regarding the gas export deal to to Israel, which was signed in 2005. It said the two sons of ousted president, Gamal and Alaa Mubarak received huge commissions. The documents indicated that Gamal Mubarak alone got a commission of 5% of the value of the contract. (Source: yallafinance.com)
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As world leaders have pressured Egyptian President Hosni Mubarak to step down and allow for a new Egyptian government, the world has no idea what will happen in this Middle Eastern country. However, Bible prophecy does reveal the future for Egypt and its people.
So many political pundits and world leaders have almost from day to day voiced what Mubarak and Egypt should do or not do. One news gathering organization after the other has embellished the reports of this popular uprising in Egypt and played a unique role in fomenting this almost revolution in Cairo. Most political leaders agree that Mubarak's days as president are over and the Egyptian military can and must play the key role in Egypt's immediate future.
That being said, the true future has already been written as far back as 2500 years ago in the pages of Bible prophecy. When I say the future, I do not mean the next day, week, or even month - but the future as it relates to Bible prophecy. Isaiah 19 looks to a time when Egypt will be loved by the Lord Jesus Christ and the Egyptians will speak the Hebrew language as they join with the Jews to go up to Jerusalem to the temple to worship the God of Israel. However, before the fulfillment of Isaiah's prophecy, Daniel 11 foretells of the Egyptian military forces coming to Israel and trying to eliminate the Jewish state. The King of the South in Daniel 11:40-43 would be the modern-day state of Egypt.
Whatever happens in the present crisis in Egypt, you can rest assured Bible prophecy will be fulfilled.
