Tuesday 26 April 2011

Corruption inquiry focus on Egyptian gas contract - The National

Egyptian gas supplies to Israel have become the focus of a wide-ranging corruption investigation into the dealings of Hosni Mubarak, the former Egyptian president, and key associates.

The Egyptian public prosecutor this week ordered Mr Mubarak to be detained for a further 15 days to allow time for him to be questioned about a controversial contract to export gas to Israel.

The prosecutor alleges the deal has cost Egypt more than US$714 million (Dh2.62 billion) in lost revenue, and the future of the exports is now in doubt.

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