Egypt says BP gas project restarted, pledges to pay gas firm debts

World News: . []

Egypt's oil minister said on Thursday that BP's $10-billion gas project, stalled for three years, had restarted and that production would begin in 2017, a sign of progress in efforts to ease the worst energy crunch in decades. In another move that could help improve investor confidence, Sherif Ismail also said Egypt would pay $1.5-billion of the money it owed to foreign energy companies by the end of 2014.

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