GIG: Middle East Refinery to bear All Costs to repair Sinai Gas Line

Adel Hegazy, General Manager of Accident and Petroleum Insurance at ‘gig’ , said the initial indices of the repair costs for the gas line which affiliated to Middle East Refinery (MIDOR) Company explained its covering by carrying the client the document.

Hegazy has emphasized to Amwal Al Ghad that the oil company will bear $ 500.000, noting that gig will not pay any compensations to the customers if the costs are less than the half value.

Hegazy added that the reforming costs of the gas line is still in final phase, asserting that the value of gig up $ 80 million, pointing out that the document involves covering all the risks of gas line.

It is worth mentioning that gig targeted achieving EGP 366 million premiums within 2013-2014.