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Israel: Deri quits Economy Ministry, paving way for gas deal

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Israel: Deri quits Economy Ministry, paving way for gas deal

Economy Minister Aryeh Deri resigned from his post, opening the way for the government to green-light a multibillion dollar gas deal with US energy giant Noble Energy, a statement from the Prime Minister’s Office said. The long-expected resignation will likely end a drawn-out affair during which Deri has refused to sign off on bypassing anti-trust regulations regarding the deal.  “We are taking today a big step toward advancing gas delivery to the State of Israel. Gas is the number one engine for economic growth in Israel for the coming years,” Netanyahu said at the weekly cabinet meeting. Under the terms of the deal, the government plans to give an international consortium led by Israel’s Delek Group and the American company Noble Energy rights to the largest gas reserve yet found in Israeli territorial waters, the Leviathan field, in exchange for a scaling back of their involvement in the currently operational Tamar field and the smaller Tanin and Karish fields.
Source: www.timesofisrael.com

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Economy Minister Aryeh Deri resigned from his post, opening the way for the government to green-light a multibillion dollar gas deal with US energy giant Noble Energy, a statement from the Prime Minister’s Office said. The long-expected resignation will likely end a drawn-out affair during which Deri has refused to sign off on bypassing anti-trust regulations regarding the deal.  “We are taking today a big step toward advancing gas delivery to the State of Israel. Gas is the number one engine for economic growth in Israel for the coming years,” Netanyahu said at the weekly cabinet meeting. Under the terms of the deal, the government plans to give an international consortium led by Israel’s Delek Group and the American company Noble Energy rights to the largest gas reserve yet found in Israeli territorial waters, the Leviathan field, in exchange for a scaling back of their involvement in the currently operational Tamar field and the smaller Tanin and Karish fields.
Source: www.timesofisrael.com

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