JERUSALEM (JTA) — Egypt’s new foreign minister said the days of Israel getting cheap gas and strategic benefits are over.

In an interview Sunday on Egyptian television, Nabil al-Arabi said Egypt will demand that Israel pay the difference between the reduced prices it received and market value on the natural gas it purchased under deposed Egyptian President Hosni Mubarak.

It was the first time an Egyptian official has spoken of a retroactive payment. The new oil minister has called for the price to be renegotiated on future purchases, according to Ynet.

Reports have circulated that the Egyptian government exports natural gas to Israel at prices lower than the cost of production.

Arabi also threatened to review and amend security arrangements agreed to in the 1979 Israel-Egypt peace treaty, but he stressed that the two countries would have to agree on any changes.

”We will stick to all of the treaties we signed, and we will demand that they keep their side of the deal,” he said, before adding that "We will not be a ‘strategic treasure’ for Israel as they used to say during the time of Mubarak. We will only abide by the treaties.”

Arabi also said that although the Sinai Peninsula is required to be demilitarized according to the treaty, Egypt keeps a military presence there.

The foreign minister stressed that the Egyptian government continues to play an important role in the Middle East peace process and said that “the Palestinians want peace, but Israel has not yet met their demands.”

”There must be some decisiveness in the issues Israel has not abided by, such as the clause that states that Israel must maintain peace with countries that want peace, which has not happened with Palestine, which has agreed to peace with Israel,” he said. ”The conflict between Palestine and Israel should be ended and not managed … for the benefit of Israel, Palestine and the entire world.”

Egyptian media reported over the weekend that Arabi also said that he would work to renew diplomatic ties with Iran since he did not consider it an enemy state.