Russian energy major pulls out of Egypt citing terror threats

World Tribune
Wednesday 27th February, 2013

Novatek is Russia’s largest independent natural gas producer. /Reuters/Maxim Shemetov Russia’s Novatek has decided to end operations in Egypt after four years of drilling and other activities. Novatek is said to have cited the rising unrest against the Islamist regime of President Mohammed Morsi. ‘;This is just another missed investment opportunity for Egypt,’; Anatoly Chomachka, a diplomat at the Russian embassy in Cairo, said. Chomachka told Aswat Misriya that Novatek was forced to halt drilling in Egypt’s Sinai Peninsula amid suspected Al Qaida-aligned attacks. The company ha…

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