PM Netanyahu's Remarks on the Decision to Increase to 60% the Amount of
Natural Gas Designated for the Israeli Market
(Communicated by the Prime Minister's Media Adviser)

Prime Minister Benjamin Netanyahu, Finance Minister Yair Lapid, Energy and
Water Minister Silvan Shalom, and Bank of Israel Governor Prof. Stanley
Fischer, today (Wednesday, 19 June 2013), decided to increase to 60% the
amount of natural gas designated for the Israeli market.

Prime Minister Netanyahu said: "Bank of Israel Governor Stanley Fischer,
Energy Minister Silvan Shalom, Finance Minister Yair Lapid, National
Economic Council Chairman Eugene Kandel, and Prime Minister's Office
Director General Harel Locker, I would like to tell you Harel, to tell all
of you, I thank you for the hard work that you did, along with Shaul Tzemach
and his team, and everyone who was involved.

The State of Israel received a gift from nature in large quantities of
natural gas. After a series of long meetings, we have jointly decided to
significantly increase the amount of gas for Israel's use. This will supply
our needs for 25 years. This is a balance between the need to ensure energy
sources for Israel's citizens and the need to export gas which will generate
revenue for use by Israel's citizens. Israel expects to earn $60 billion
from gas exports.

We will bring this decision for the Cabinet to approve on Sunday. We want to
get this approved very quickly. We certainly do not want to be like the
countries that delayed in making decisions and were left without gas in the
end. Instead of the gas staying in the ground, or under the sea in our case,
we want to begin to produce gas and to fill the state's coffers with
billions of shekels that will allow us to ease the economic burden on the
public, and, of course, to see to our important national needs. We have
defined them and we have established a fund to deal with these needs, in
such a way that our economy will not be hurt and our state will derive much
benefit.

I think that there is additional importance in what we are doing here today.
We must continue growth and we need growth engines. There are several growth
engines that the government has already started to deal with energetically,
including structural reforms such as the major reform of the ports, which is
important and which is approaching. There is also the opening of new
markets, the first of which, of course, is the Chinese market. But gas is a
third growth engine and vigorously developing gas is one of the things that
will herald growth and progress for the State of Israel.

I would like to thank my colleagues here who worked together, I will
surprise you, very harmoniously, very seriously, even quietly, without
unnecessary leaks and with the professional team that worked very well. I
would also like to thank you, Shaul, I know that you invested considerable
time. We have been working on this for a long time, starting with the
previous government but here, the current government quickly decided to
bring the issue to a close and bring gas to the State of Israel. Thank you."