Senior Egyptian security officials said that, last night that at around 1:00 am, armed terrorists bombed the Sinai gas pipeline three kilometers south of El Arish. This is the 13th attack, and follows a previous attack just one month ago, since the uprising in Egypt.
According to reports, armed terrorists attacked the gas pipeline, but the extent of the damage is unknown. In previous incidents, gas deliveries were stopped for extended periods.
Egypt supplies gas to Israel via East Mediterranean Gas Company (EMG), in which Yosef Maiman owns 20.6%, including 12.5% though Ampal-American Israel Corporation (Nasdaq: AMPL; TASE:AMPL), and the rest through his private company Merhav Group).
Ampal's share price fell 0.8 % in morning trading on the TASE to NIS 1.01, following the news, after falling 5.9% on Nasdaq yesterday to $0.28, giving a market cap of $15.5 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2012
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