Egypt to pay $1.76bn
JERUSALEM: Israel’s state-owned electric utility says Egyptian natural gas companies will pay it compensation of $1.76 billion for halting gas supplies. Egypt stopped selling natural gas to Israel in 2012 after months of attacks on a pipeline by militants in Egypt’s Sinai Peninsula. The Israeli electric company sued the Egyptian providers EGPC and EGAS for $4 billion in damages. The 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.