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Exhibit 10.L

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OMNIBUS AGREEMENT

among

MERHAV AMPAL ENERGY LIMITED

AND

MERHAV (M.N.F.) LIMITED

dated as of December 1, 2005

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TABLE OF CONTENTS

Page(s)

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ARTICLE I DEFINITIONS 2    ARTICLE II TRANSACTIONS 5    2.1  Purchase of Initial
Shares 5    2.2  Nominee Agreement 5    2.3  Purchase of Shares 5    2.4 
Purchase Price Adjustment 6    2.5  Put Option 6          ARTICLE III SELLER'S
REPRESENTATIONS AND WARRANTIES 7    3.1  Existence; Authority; Enforceability 7 
  3.2  The Shares 7    3.3  Absence of Conflicts 7    3.4  Compliance With Law;
Consents 7    3.5  Fees 8    3.6  Disclosure 8          ARTICLE IV COVENANTS 8 
  4.1  Exclusivity 8    4.2  Tag Along 9    4.3  Due Diligence 9    4.4  Payment
of Current Capital Call 9    4.5  Limitation on Certain Representations 9   
4.6  Further Assurances 10          ARTICLE V SURVIVAL 10    5.1  Survival 10   
      ARTICLE VI MISCELLANEOUS 10    6.1  Governing Law 10    6.2  Arbitration
10    6.3  Severability 10    6.4  Interpretation 10    6.5  Costs and Expenses
11    6.6  Notices 11    6.7  Counterparts 12    6.8  Entire Agreement 12   
6.9  No Third Party Rights; Assignment 12    6.10 Waivers and Amendments 12 

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OMNIBUS AGREEMENT

        OMNIBUS AGREEMENT (this “Agreement”), dated as of December 1, 2005, by
and among Merhav (m.n.f) Limited, a company organized under the laws of the
State of Israel (“Seller”), and Merhav Ampal Energy Limited, a company organized
under the laws of the State of Israel (“Purchaser”) (each, a “Party” and,
collectively, the “Parties”).

RECITALS

        WHEREAS, Purchaser owns 15,000 shares (the “Shares”) of East
Mediterranean Gas Co. S.A.E., an Egyptian stock company (“EMG”), representing
25% of the issued and outstanding capital stock of EMG;

        WHEREAS, Seller offered Purchaser the opportunity to purchase all or
part of the Shares;

        WHEREAS, Purchaser requires additional time to complete due diligence
with respect to EMG and Seller’s ownership of the Shares before making a final
determination with respect to the purchase the Shares, and Seller and Purchaser
need additional time to negotiate the price and terms of such a purchase;

        WHEREAS, Seller has informed Purchaser that the shareholders of EMG are
subject to a capital call (the “Current Capital Call”) pursuant to which Seller,
to maintain its interest in EMG, will be required to contribute capital to EMG;

        WHEREAS, Seller has informed Purchaser that it may seek other purchasers
of the shares;

        WHEREAS, after initial review, Purchaser has determined it is in its
best interest to preserve the opportunity to purchase the Shares pending
completion of its due diligence;

        WHEREAS, to preserve the opportunity to purchase the Shares, Purchaser
has agreed to purchase, and Seller has agreed to sell, the beneficial ownership
in 1200 shares of EMG (such shares representing approximately 2% of the issued
and outstanding capital stock of EMG) (the “Initial Shares”), while the Parties
continue to negotiate an agreement to purchase the Shares;

        WHEREAS, the purchase of the Initial Shares will be subject to (a) a
downward purchase price adjustment based on any final negotiated purchase price
for the Shares that is lower than the purchase price for the Initial Shares
herein and (b) Purchaser’s right to cause under certain circumstances (including
Purchaser not being satisfied with its due diligence) Seller to repurchase the
Initial Shares; and

        WHEREAS, the Parties will consummate certain additional transactions and
enter into certain other Transaction Documents (as hereinafter defined) in
connection herewith.

        NOW, THEREFORE, in consideration of the aforesaid premises and of the
mutual representations, warranties and covenants contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Parties hereby agree as follows:

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ARTICLE I

DEFINITIONS

        The following terms shall have the following meanings for purposes of
this Agreement:

        “Affiliate” means (i) with respect to any Person, a Person that
controls, is controlled by, or is under common control with such Person (it
being understood, that a Person shall be deemed to “control” another Person, for
purposes of this definition, if such Person directly or indirectly has the power
to direct or cause the direction of the management and policies of such other
Person, whether through holding ownership interests in such other Person,
through agreements or otherwise); and (ii) with respect to any natural Person,
(1) any parent, grandparent, sibling, child or spouse of such natural Person, or
other Person related by marriage to any such Persons, (2) any trust established
for the benefit of such natural Person or any Affiliate of such natural Person
or (3) any executor or administrator of the estate of such natural Person.

        “Agreement” has the meaning set forth in the Preamble.

        “Authority” means any governmental, judicial, legislative, executive,
administrative or regulatory authority of Egypt, Israel, the United States or
any state, local, provincial or foreign government or any subdivision, agency,
commission, office or judicial, administrative or regulatory authority thereof.

        “Business Day” means any day other than a Saturday, Sunday or a day on
which banking institutions in New York, New York, Israel or Egypt are authorized
or obligated by law or executive order to close.

        “Charter Documents” means any by-laws, charter, memorandum, certificate
of incorporation, articles of association and any other similar constitutive or
governing documents.

        “Consent” means any consent, waiver, approval, authorization, exemption,
registration, permit, license or declaration of or by any Person or any
Authority, or expiration or termination of any applicable waiting period under
any Legal Requirement, that is required with respect to any Party in connection
with (i) the execution and delivery of this Agreement or any other Transaction
Document or (ii) the consummation and performance of any of the transactions
provided for hereby or thereby.

        “Contract” or “Contracts” means any and all contracts and agreements,
including those that are franchises, warranties, understandings, arrangements,
leases, licenses, registrations, authorizations, mortgages, bonds, notes and
other instruments (whether written or oral).

        “Current Capital Call” has the meaning set forth in the Recitals.

        “Definitive Documentation” has the meaning set forth in Section 2.4.

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        “Initial Shares” has the meaning set forth in the Recitals.

        “Definitive Per Share Purchase Price” has the meaning set forth in
Section 2.4.

        “EMG” has the meaning set forth in the Recitals.

        “Initial Per Share Purchase Price” has the meaning set forth in Section
2.4.

        “Judgments” means any and all judgments, orders, writs, directives,
rulings, decisions, injunctions, decrees, settlement agreements or awards of any
Authority or arbitrator.

        “Legal Requirements” means any and all (i) laws, ordinances and
regulations, whether federal, provincial, state or local, of Israel, Egypt, the
United States, or any other applicable jurisdiction; (ii) codes, standards,
rules, requirements and criteria issued under any laws, ordinances and
regulations, whether federal, provincial, state or local of Israel, Egypt, the
United States or any other applicable jurisdiction; and (iii) Judgments.

        “Liabilities” means any obligation, liability, or indebtedness of any
kind, character or description, whether absolute, contingent, accrued,
liquidated, unliquidated, known, unknown, executory or otherwise.

        “Lien” means any mortgage, pledge, hypothecation, charge, assignment,
deposit arrangement, encumbrance, security interest, lien, fiduciary assignment
and any security or similar agreement of any kind or nature whatsoever.

        “Necessary Action” means, with respect to a result required to be
caused, all actions (to the extent such actions are permitted by applicable
Legal Requirements) reasonably necessary to cause such result.

        “Nominee Agreement” means the Nominee Agreement, dated as of the date
hereof, between Seller and Purchaser.

        “Option Termination Date” has the meaning set forth in Section 2.3.

        “Party” or “Parties” has the meaning set forth in the Preamble.

        “Person” means an individual, corporation, partnership, trust, limited
liability company, a branch of any legal entity, unincorporated organization,
joint stock company, joint venture, association or other entity, or any
government, or any agency or political subdivision thereof.

        “Preamble” means the preamble to this Agreement.

        “Proceeding” means any action, suit, charge, hearing, claim or legal,
administrative, arbitration or other alternative dispute resolution proceeding
or investigation.

        “Pipeline” means the proposed pipeline to be built by EMG from El-Arish,
Egypt to Ashkelon, Israel, and any future locations.

        “Put” shall have the meaning set forth in Section 2.5.

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        “Put Closing” shall have the meaning set forth in Section 2.5.

        “Put Notice” shall have the meaning set forth in Section 2.5.

        “Put Price” means, with respect to any date of determination, the amount
set forth in the following table and any amounts of additional capital calls (if
any) contributed by Purchaser on account of the Initial Shares in accordance
with the provisions of the Nominee Agreement:

On or Prior to:

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Amount

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  May 31, 2006 $30,377,500    November 30, 2006 $30,795,000    May 31, 2007
$31,212,500    November 30, 2007 $31,630,000    May 31, 2008 $32,047,500   
November 30, 2008 $32,465,000 

        “Purchase Price” has the meaning set forth in Section 2.1.

        “Purchaser” has the meaning set forth in the Preamble.

        “Recitals” means the recitals to this Agreement.

        “Sale Notice” has the meaning set forth in Section 4.2.

        “Seller” has the meaning set forth in the Preamble.

        “Shares” has the meaning set forth in the Recitals.

        “Tag-Along Notice” has the meaning set forth in Section 4.2.

        “Tag-Along Shares” has the meaning set forth in Section 4.2.

        “Third-Party” has the meaning set forth in Section 4.2.

        “Transaction Documents” means each of this Agreement, the Nominee
Agreement and any other agreement, certificate or instrument delivered pursuant
to any of the foregoing.

        “Transfer” means, whether voluntary or involuntary, any transfer,
assignment (including any fiduciary assignment), conveyance, sale, pledge or
hypothecation.

        “Transfer Instruments” has the meaning set forth in Section 2.1.

        “Valuation Report” has the meaning set forth in Section 3.6.

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ARTICLE II

TRANSACTIONS

     2.1        Purchase of Initial Shares.

    (a)        On the date hereof, Seller shall sell to Purchaser, and Purchaser
shall purchase from Seller, the beneficial ownership in the Initial Shares, for
the purchase price specified in Section 2.1(c). Seller shall deliver to
Purchaser, against payment of the Purchase Price, such instruments of transfer
(“Transfer Instruments”) reasonably requested by Purchaser to evidence the sale,
transfer and assignment of the beneficial ownership of the Initial Shares from
Seller to Purchaser. Any transfer or similar taxes shall be the responsibility
of Seller. Except pursuant to Section 6 of the Nominee Agreement, or during the
existence of a default by Seller in payment of the Put Price when due, the
Purchaser hereby covenants and agrees not to seek or take any action to register
the Initial Shares in its name on the registry of EMG.

    (b)        The closing of the purchase and sale of the Shares (the
“Closing”) shall take place on the date hereof at the offices of Seller, 33,
Havazelet Hasharon St., Herzliya Pituah, Herzliya 46105, Israel.

    (c)        The aggregate purchase price for the Initial Shares shall be
$29,960,000 (the “Purchase Price”). The Purchase Price shall be paid on the date
hereof by Purchaser to Seller, or to its order, by wire transfer of immediately
available funds to an account or accounts of Seller at the bank or banks
specified by Seller in writing. The Purchase Price is subject to adjustment in
accordance with Section 2.4.

    2.2        Nominee Agreement. Seller and Purchaser shall enter into the
Nominee Agreement which shall set forth the agreements between the Parties with
respect to, among other things, (i) Seller’s holding of the Initial Shares on
behalf of and for the benefit of Purchaser; (ii) capital calls by EMG; (iii)
voting of the Initial Shares; (iv) payment of dividends and other distributions
from EMG; (v) Purchaser’s right to receive additional shares of EMG from Seller
in consideration for Purchaser making certain capital contributions to EMG; and
(vi) the transfer and registration of the Shares. Seller shall deal with the
Initial Shares as provided in the Nominee Agreement.

    2.3        Purchase of Shares. (a) The Parties hereby agree to use their
good faith efforts to negotiate the terms and/or structure of, and Definitive
Documentation relating to, the sale and purchase of the remaining Shares whether
directly or by joint ownership of MAE, all as will be discussed and agreed
between the Parties. Although the Parties hereby agree to enter into
negotiations relating to the sale and purchase of the remaining Shares, the
Parties acknowledge (i) that neither this Agreement, the Nominee Agreement nor
any other Transaction Document bind the Parties to sell or purchase, as the case
may be, the remaining Shares (except to the extent Purchaser has a right to
additional Shares of EMG in connection with making of required capital
contributions to EMG pursuant to a capital call) and (ii) that only the
Definitive Documentation shall be binding on a Party with respect to either the
sale or purchase of the remaining Shares. For the avoidance of doubt, this
foregoing limitation on the binding nature of this Agreement applies only to
this Section 2.3(a) and the obligation to either sell or purchase the remaining
Shares, as the case may be, and not any other provision of this Agreement or the
Transaction Documents.

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    (b)        The obligations of the Parties under this Section will terminate
on the date (the “Option Termination Date”) which is the later of (x) December
1, 2006 or (y) the date on which EMG commences regularly scheduled deliveries of
natural gas through the Pipeline.

    2.4        Purchase Price Adjustment.

    (a)        In the event that the Parties enter into a binding agreement for
the purchase of the Shares pursuant to Section 2.3 above (the “Definitive
Documentation”) and the purchase price per share for the Shares in the
Definitive Documentation (the “Definitive Per Share Purchase Price”) is less
than the purchase price per share paid for the Initial Shares (the “Initial Per
Share Purchase Price”), the Initial Per Share Purchase Price shall be reduced to
the Definitive Per Share Purchase Price. Upon closing of the sale and purchase
of the Shares, Seller shall either, at its own discretion, (i) deliver to
Purchaser an amount equal to the product of (x) the excess of the Initial Per
Share Purchase Price over the Definitive Per Share Purchase Price multiplied by
(y) 1200; or (ii) provide Purchaser with a notice according to which the amount
specified in (i) above will be set off against payment of the consideration to
Seller in the closing of the sale and purchase of the Shares pursuant to the
Definitive Documentation. The parties acknowledge that the payment required
hereunder may be paid by way of credit in connection with the purchase of the
remaining Shares pursuant to the Definitive Documentation.

    2.5        Put Option.

    (a)        At any time after March 1, 2006 and prior to the Option
Termination Date, Purchaser shall have the right for any reason whatsoever
(including, without limitation, due diligence with respect to EMG or Seller’s
ownership of the Shares) to require Seller to repurchase (the “Put”) all or any
of the Initial Shares for the Put Price by delivering written notice of its
exercise of such right to Seller (the “Put Notice”). For purposes of determining
the Put Price, the determination date shall be the date on which the Put Closing
occurs. Notwithstanding the foregoing, Purchaser may exercise the Put prior to
March 1, 2006, if any representation or warranties of Seller herein are
determined by Purchaser in its reasonable opinion not to be complete, accurate,
and correct in all respects.

    (b)        Seller will be obligated to purchase all of the Initial Shares
requested to be repurchased in the Put Notice, at a mutually agreeable time and
place which will in no event be later than forty-five (45) days after the date
of the Put Notice (the “Put Closing”). At the Put Closing, Purchaser shall
deliver to Seller such documentation reasonably requested by Seller and required
to transfer to Seller Purchaser’s interest in the Initial Shares being
repurchased by Seller, free and clear of any Liens attributable to Purchaser,
and Seller shall deliver to Purchaser an amount equal to the quotient of (x) the
Put Price divided by (y) the number of shares being repurchased by Seller.

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ARTICLE III

SELLER’S REPRESENTATIONS AND WARRANTIES

        Seller hereby represents and warrants to Purchaser on the date hereof:

    3.1        Existence; Authority; Enforceability. Seller is a company duly
organized and validly existing under the laws of Israel. EMG is a company duly
organized and validly existing under the laws of Egypt. Seller has the requisite
power and authority to enter into each Transaction Document to which it is a
party and to perform its respective obligations thereunder. The execution,
delivery and performance by Seller of each Transaction Document to which it will
be a party and the consummation by it of the transactions contemplated hereby
and thereby have been duly authorized and approved by all corporate action of
Seller. Seller has duly and validly executed and delivered each Transaction
Document to which it is a party, and each such Transaction Document constitutes
its legal, valid and binding obligation, enforceable against Seller, in
accordance with its terms.

    3.2        The Shares. (a) Seller owns 15,000 normal shares of stock,
nominal value $1,000 per share, of EMG, representing 25% of all of the issued
and outstanding capital stock or other equity interest of EMG on a fully-diluted
basis. All of the issued and outstanding shares of capital stock of EMG have
been duly authorized, validly issued and after payment of the Current Capital
Call will be fully paid, nonassessable and except as set forth in EMG’s Charter
Documents, free of preemptive rights, with no personal liability attaching to
the ownership thereof. To the best of Seller’s knowledge, there are no
outstanding securities convertible into, exchangeable for, or carrying the right
to acquire, any capital stock of EMG, or subscriptions, warrants, options,
calls, rights (pre-emptive or other) or other arrangements or commitments
obligating EMG to issue or dispose of any of its capital stock or any ownership
interest therein.

    (b)        Seller is the record owner of the Shares, and except as set forth
in EMG’s Charter Documents, free and clear of any and all Liens. Upon the
delivery of the Transfer Instrument, Purchaser shall have good and valid
beneficial ownership of the Initial Shares, free and clear of any Liens.

    3.3        Absence of Conflicts. The execution and delivery by Seller of the
Transaction Documents to which it is a party and the performance of its
respective obligations hereunder and thereunder, and the consummation of the
transactions contemplated hereby and thereby does not and will not conflict
with, or result in the breach of any provision of, the Charter Documents of
Seller or any Contract or violate any Legal Requirement applicable to Seller.

    3.4        Compliance With Law; Consents. No Consent is required to be made
or obtained by Seller in connection with (i) the execution, delivery or
performance of the Transaction Documents to be entered into by Seller or (ii)
the consummation of any of the transactions contemplated by the Transaction
Documents. To the best of Seller’s knowledge, Seller is in compliance in all
respects with all applicable Legal Requirements, except where such failure would
not have or could not reasonably by expected to have a material adverse effect
on Seller or its ability to consummate the transactions contemplated by, and
perform its obligations, under the Transaction Documents.

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    3.5        Fees. Neither Seller nor any of its Affiliates has paid or become
obligated to pay any fee or commission to any broker, finder or intermediary in
connection with the transactions contemplated hereby.

    3.6        Disclosure. Seller has provided to Purchaser all documents and
information (i) in Seller’s or any of its Affiliate’s possession relating to
EMG, and (ii) that is reasonably material in connection with a decision to
purchase the Initial Shares. Seller has not withheld from Purchaser or Giza
Singer Even Ltd. (“GSE”) (in connection with GSE’s engagement by Seller or its
Affiliates to prepare a valuation report of EMG) any information or documents
regarding Seller, its Affiliates or EMG, as the case may be, that are reasonably
material in connection with a decision to purchase the Initial Shares or in
determining the valuation of EMG. No representation or warranty by Seller
contained in this Agreement or any other Transaction Document and no information
contained in any other instrument furnished or to be furnished to Purchaser or
GSE, as the case may be, pursuant hereto or in connection with the transaction
contemplated by this Agreement, any other Transaction Document or in connection
with the Valuation Report (as defined below) contains or will contain any untrue
statement of a material fact or omits or will omit to state a material fact
necessary in order to make the statements contained herein or therein not
misleading. Seller is not aware of any facts or circumstances which would cause
the representations and warranties of Seller contained in this Agreement or any
other Transaction Documents to be untrue or incorrect. To the knowledge of
Seller, after due inquiry, there is no fact, circumstance or condition which has
had or could reasonably be expected to have a material adverse effect on EMG or
Seller, which has not been disclosed to Purchaser or its representatives.
Neither Seller nor any of its Affiliates are aware of any untrue statement of
material fact in the draft Economic Valuation, dated November 11, 2005, prepared
by GSE (the “Valuation Report”). Seller believes that the assumptions made by
GSE set forth in the Valuation Report are reasonable.

ARTICLE IV

COVENANTS

    4.1        Exclusivity. (a) During the period from the date hereof through
the one year anniversary of the date hereof, Seller shall not, and shall cause
its Affiliates and agents, directly or indirectly, not to (i) solicit, initiate
or encourage any inquiries, discussions or proposals from any other Person
relating to a possible acquisition of any part of the Shares; (ii) continue,
solicit, encourage or enter into negotiations or discussions relating to any
such possible acquisition; (iii) furnish to any other Person any information
(not already in the public domain) relating to the transactions contemplated
hereby; or (iv) enter into or consummate any agreement or understanding
providing for any such possible acquisition. To the extent Seller or any of its
Affiliates is contacted or solicited in writing by any Person in connection with
the purchase of Shares, Seller shall notify Purchaser in writing of any such
written proposal or offer, or any inquiry or other contact with any Person with
respect thereto, in each case promptly after such proposal, offer, inquiry or
contact is made and shall, in any such notice to Purchaser, indicate in
reasonable detail the identity of the Person making such proposal, offer inquiry
or contact and the terms and conditions of such proposal, offer, inquiry or
other contact.

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    (b)        Notwithstanding the foregoing, the restriction on Seller set
forth in Section 4.1(a) shall apply only with respect to 10,013 of the remaining
Shares.

    4.2        Tag Along. (a) In the event, Seller wishes to Transfer all or a
portion of the Shares to a non-Affiliated third-party purchaser (a
“Third-Party”), Seller shall provide Purchaser with a notice, via facsimile,
describing the proposed sale to such Third-Party Purchaser, including the name
of the Third-Party, the purchase price and the other material terms and
conditions on which such Third-Party is willing to acquire the Shares (the “Sale
Notice”), and Purchaser shall have the right, but not the obligation, to require
Seller to include a pro rata portion of shares of EMG beneficially owned by
Purchaser in such sale, on the same terms and conditions as apply to the Shares
to be sold by Seller, by delivering written notice (a “Tag-Along Notice”) to
Seller, via facsimile, within five (5) Business Days after receiving the Sale
Notice, of its intent to exercise such right. The Tag-Along Notice shall specify
the number of Initial Shares to be included in the proposed sale (the “Tag-Along
Shares”). If Purchaser has not timely delivered the Tag-Along Notice, Seller
shall be entitled to consummate the sale to the Third-Party on the terms
described in the Sale Notice. In the event that the Third-Party is not willing
to purchase all of the Shares offered by Seller and all of the Tag-Along Shares,
each of Seller and Purchaser shall be entitled to include in such sale a pro
rata portion of the shares held or beneficially owned by it.

     (b)        In the event Purchaser has timely delivered the Tag-Along
Notice, if Seller is able to effect a sale of such shares which complies with
Section 4.2(a) above, then Seller shall arrange for the consideration to be paid
by the Third-Party for the shares to be sold by Purchaser to be transferred
directly to Purchaser upon delivery by Purchaser of appropriate documentation
Transferring its interest in the Tag Along Shares. All costs and expenses
incurred by Seller and Purchaser in connection with such sale shall be borne by
such Seller and Purchaser, respectively.

    4.3        Due Diligence. Seller hereby agrees to cooperate with Purchaser
in its due diligence and shall provide Purchaser with such information and
documents as Purchaser shall reasonably request, and use reasonable commercial
efforts to cause EMG to provide such information and documents as Purchaser
shall reasonably request. The Parties agree that the due diligence to be
conducted by Purchaser shall be to assist Purchaser (i) in confirming the
representations and warranties of Seller set forth in this Agreement, and (ii)
determining whether to exercise its Put and (iii) evaluating whether or not to
purchase the remaining Shares.

    4.4        Payment of Current Capital Call. Seller hereby undertakes to make
the payment of any funds due to EMG pursuant to the Current Capital Call.

    4.5        Limitation on Certain Representations. Notwithstanding anything
to the contrary in Section 3.1, 3.3 and 3.4 above, it is agreed between the
Parties that in the event that any representation or warranty given by Seller
under Sections 3.1, 3.3 and/or 3.4 above, is determined to be inaccurate or
incorrect, solely due to reasons attributable to the applicable laws and
regulations of Egypt and/or EMG’s Charter Documents, then Purchaser’s sole and
exclusive remedy will be to immediately exercise the Put Option as per the
provisions of Section 2.5 above, and if such exercise of the Put Option is
impossible for any reason whatsoever (including a determination that due to
applicable law, the transfer of the beneficial ownership of the Initial Shares
to Purchaser was invalid or unenforceable), then to receive an amount which is
equal to the relevant Put Price applicable at that time, no later than
forty-five (45) days after the date on which Seller will receive a notice, in
writing, from Purchaser to that effect, against delivery of the documents
evidencing the transfer of any rights Purchaser may have in the Initial Shares
to Seller in accordance with Section 2.5(b).

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    4.6        Further Assurances. Subject to the terms and conditions herein,
each of the Parties agrees to take, or use reasonable commercial efforts in
order to cause to be taken, all Necessary Actions and to do, or use reasonable
commercial efforts in order to cause to be done, all things necessary, proper or
advisable under all applicable Legal Requirements to consummate and make
effective the transactions contemplated by the Transaction Documents to which it
is a party.

ARTICLE V

SURVIVAL

    5.1        Survival. Each representation and warranty in this Agreement
shall survive the for a period of two years after the date hereof, providedthat
(i) the representation set forth in Section 3.1 and 3.2 shall survive
indefinitely and (ii) the survival periods set forth in this Section 5.1 shall
not apply to any claims involving fraud or bad faith on the part of any Party
hereto.

ARTICLE VI

MISCELLANEOUS

    6.1        Governing Law. This Agreement shall be governed in all respects,
including validity, interpretation and effect, by the internal laws of the State
of New York without regard to its conflict of law principles (other than Section
5-1401 of the New York General Obligation Law).

    6.2        Arbitration. . All disputes between the parties hereto arising
under the terms of this Agreement or any other Transaction Documents shall be
arbitrated in New York City under the rules of the American Arbitration
Association then obtaining in the City of New York judgment on any award made by
the arbitrators hereunder may be rendered in any court having jurisdiction.

    6.3        Severability. Each Section, subsection and clause of this
Agreement and each other Transaction Documents constitutes a separate and
distinct undertaking, covenant or provision hereof. In the event that any
provision of this Agreement or any other Transaction Document shall finally be
determined to be unlawful, such provision shall be deemed severed from this
Agreement or such Transaction Document, but every other provision of this
Agreement or such Transaction Document shall remain in full force and effect.

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    6.4        Interpretation. Whenever used in this Agreement, except as
otherwise expressly provided or unless the context otherwise requires, any noun
or pronoun shall be deemed to include the plural as well as the singular and to
cover all genders. Unless otherwise specified, words such as “herein”, “hereof”,
“hereby”, “hereunder” and words of similar import refer to this Agreement as a
whole and not to any particular Section or subsection of this Agreement, and
references herein to “Articles” or “Sections” refer to Articles or Sections of
this Agreement. The headings in this Agreement are intended solely for
convenience of reference and shall be given no effect in the construction or
interpretation of this Agreement.

    6.5        Costs and Expenses. Each Party shall bear its own expenses
incurred in connection with the negotiation, preparation, execution and closing
of this Agreement and each other Transaction Document and the transactions
provided for hereby and thereby.

    6.6        Notices. All notices or other communications required or
permitted by this Agreement or any other Transaction Document shall be effective
upon receipt and shall be in writing and delivered personally or by overnight
courier, or sent by facsimile (with confirmation copies delivered personally or
by courier within three (3) Business Days), as follows:

        If to Seller, to:

  Merhav (m.n.f) Ltd
33 Havatzelet Hasharon Street
Herzlia, Israel
Attention: Mr. Yossef Maiman and Mr. Leo Malamud
Facsimile:+972-9-9501733

        If to Purchaser, to:

  Merhav Ampal Energy Limited
111 Arlozorov Street
Tel Aviv 62098 Israel
Attention: Yoram Firon
Facsimile:+972-3-6080101

        with copies to:

  Bryan Cave LLP
1290 Avenue of the Americas
New York, NY, USA 10019
Attention: Kenneth Henderson, Esq.
Facsimile: (212) 541-1357

or to such other address as hereafter shall be furnished as provided in this
Section 6.6 by any Party to any other Party. Any demand, notice or other
communication given by personal delivery shall be conclusively deemed to have
been given on the day of actual delivery thereof and, if given by facsimile, on
the day of transmittal thereof if given during the normal business hours of the
recipient, and on the Business Day during which such normal business hours next
occur if not given during such hours on any day.

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    6.7        Counterparts. This Agreement and each other Transaction Document
may be executed in any number of counterparts, each of which shall be deemed an
original, but all of which together shall constitute a single instrument.

    6.8        Entire Agreement. This Agreement together with the other
Transaction Documents set forth the entire understanding and agreement between
the Parties as to the matters covered herein and therein and supersede and
replace any prior understanding, agreement or statement of intent, in each case,
written or oral, of any and every nature with respect thereto. In the event of
any inconsistency between this Agreement and the other Transaction Documents,
this Agreement shall govern as between the Parties with respect to the matters
set forth herein.

    6.9        No Third Party Rights; Assignment. This Agreement is intended to
be solely for the benefit of the Parties and is not intended to confer any
benefits upon, or create any rights in favor, of any Person other than the
Parties and shall not be assignable without the prior written Consent of the
other Parties. Notwithstanding any of the foregoing, Purchaser may Transfer its
rights and interests hereunder to an Affiliate.

    6.10        Waivers and Amendments. No modification of or amendment to this
Agreement or any other Transaction Document shall be valid unless in a writing
signed by the Parties referring specifically to this Agreement or such other
Transaction Document and stating the Parties’ intention to modify or amend the
same. Any waiver of any term or condition of this Agreement or any other
Transaction Document must be in a writing signed by the Party sought to be
charged with such waiver referring specifically to the term or condition to be
waived, and no such waiver shall be deemed to constitute the waiver of any other
breach of the same or of any other term or condition of this Agreement or any
other Transaction Document.

        IN WITNESS WHEREOF, the parties hereto have duly executed this Omnibus
Agreement as of the date first above written.

MERHAV AMPAL ENERGY LIMITED

BY:
——————————————
Name:
Title:

MERHAV (M.N.F) LIMITED

BY:
——————————————
Name:
Title:

[SIGNATURE PAGE TO OMNIBUS AGREEMENT]

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