"It's a good development for the people in this region, and it speaks highly of the pipeline company."
Still, the stock prices of other pipeline companies also fell, though not by nearly as much.
He served as the water, gas, and pipeline company's president.
Enron was once upon a time just an obscure pipeline company.
Gone were the days when the pipeline company moved the gas and also marketed it.
In third world countries, product theft is a problem for pipeline companies.
The pipeline company might be worth nothing, he said, but "I doubt there's a lot of negative value there."
All three pipeline companies have made big commitments to either natural gas production or transportation there.
It is one of four companies that have supply contracts with the pipeline company.
Establishment of the pipeline company was agreed in 1973 between five Arab governments.