Egypt is to finish soon drafting a new contract for gas exports to the Zionist entity, in which it will increase the prices.

Egypt is to finish soon drafting a new contract for gas exports to the Zionist entity, in which it will increase the prices.

"The final draft related to amending the prices for exporting natural gas to Israel will be completed soon. It will see a big increase in the price," newspaper Al-Ahram reported, citing Petroleum Minister Abdullah Ghorab.

Following the ouster of deposed President Hosni Mubarak, gas supplies to Israel have been disrupted by a series of attacks on the pipeline in the Sinai border region by assailants believed to oppose the sale of gas to Israel.

The ruling military council, which took control of the country after Mubarak departure, has sought, under popular pressure to toughen its stance towards Israel, to renegotiate the terms of the gas deal. It complained that the previous agreement signed under Mubarak fixed prices below market rates.

Ghorab said gas supplies to Israel were still suspended after the latest attack on the pipeline in Sinai in late September, Al-Ahram reported.

Egypt is also seeking to renegotiate prices of gas exports to Jordan, which have also been disrupted by the attacks.

Gunmen opened fire on a gas installation in the Sinai last week, before an explosion hit a pipeline.

It was the sixth such attack on the pipeline since Mubarak was toppled in February. The pipeline carries gas through the Sinai and on to Jordan and Israel.

Egypt supplies 43 percent of Israel's natural gas and 40 percent of Israel's electricity comes from this source.