In a bid to put a stop to international arbitration Egypt’s Minister of Petroleum, Tarek El Molla (photo), Spanish firm Fenosa, and the UK’s BG Group are in continous talks.

Egypt was plunged into arbitration by the two international firms due to the suspension of the gas supplies to their respective LNG plants for export.

Both companies are also insisting that the Egyptian government allow them to import natural gas from Israel as feedstock.

While speaking to Petroleum Africa, Minister of Petroleum El Molla declined discussing whether the two companies will be allowed to import Israeli gas, or to have a share of the recently discovered Shorouk gas field.

According to him, “Both companies that you are talking about will be part of the solution of the energy shortage crisis; all the scenarios are on the table.”

He added that the Ministry has completed the technical evaluation of the second tender to import gas. However, he refused to name these offers, saying “the financial evaluation is very soon.”