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Tags: APFN | ML | Israel | Natural Gas

Scuttled Israel Gas Deal Frustrates US, Israeli Developers

Monday, 28 March 2016 05:13 AM

JERUSALEM (AP) — Israeli and American energy companies controlling Israel's natural gas say they are dissatisfied with a ruling the day before by Israel's Supreme Court that struck down a government deal to begin pumping from offshore deposits.

David Stover, the chairman of Houston-based Noble Energy, said on Monday that the ruling is "disappointing."

Prime Minister Benjamin Netanyahu had emphatically supported the deal struck between his government and a consortium of gas developers as a path to Israeli energy independence and billions of dollars in revenue. Critics said the deal gave too much profit to corporations at the public's expense.

The court opposed a clause that would prevent Israel from making significant regulatory changes for the next ten years.

The Israeli Delek Group called Monday on the government to rework the agreement quickly.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
Israeli and American energy companies controlling Israel's natural gas say they are dissatisfied with a ruling the day before by Israel's Supreme Court that struck down a government deal to begin pumping from offshore deposits.David Stover, the chairman of Houston-based...
APFN,ML,Israel,Natural Gas
132
2016-13-28
Monday, 28 March 2016 05:13 AM
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