Report: Mubarak's sons received millions of dollars for backing Israeli gas
salesKuwaiti newspaper Al-Jarida reported Sunday that it obtained the documents
from the Egyptian interior ministry.
By
TheMarker and News Agencies
Gamal
and Alaa Mubarak, the two sons of former Egyptian President Hosni
Mubarak, received hundreds of millions of dollars in "commissions" from
the sale of Egyptian natural gas to Israel, the Kuwaiti newspaper
Al-Jarida reported yesterday.
Gamal initially demanded a 10% commission but eventually agreed
to half of that, while his elder brother and businessman Hussein Salem
settled for 2.5% each from the $2.5-billion deal signed in May 2005.
Salem, considered to be very close to the Mubarak family, is the the
largest shareholder in Eastern Mediterranean Gas, the Egyptian firm that
supplied the gas to Israel. Mubarak's sons allegedly backed the
controversial gas exports to Israel in return for the payments.
Gamal Mubarak, the son of then-Egyptian
President Hosni Mubarak and once a powerful member of the ruling
party's secretariat, November 28, 2010.
Photo by: AP
Al-Jarida
said
it obtained the documents from a special department at the Egyptian
interior ministry that was looking into various activities of the family
of the former president, who was toppled in a popular uprising last
month. Al-Jarida published photocopies of the alleged documents. The
paper said negotiations took place involving Israeli officials, former
Egyptian oil minister Sameh Fahmi and Salem in January
2005.
The deal called for 1.7 billion cubic meters
of gas to be sold annually over 15 years by EMG to the Israel Electric
Corporation. In December 2010, four Israeli firms signed 20-year
contracts, worth up to $10 billion, with EMG to import Egyptian gas. Gas
exports began flowing in February 2008 after the pipeline to Israel was
completed.
Egypt supplies about 40% of Israel's natural gas, which is used to produce
about 20% of Israel's electricity.
_____http://english.themarker.com/report-mubarak-s-sons-received-millions-of-dollars-for-backing-israeli-gas-sales-1.347560
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