Excerpts: Israel's natural gas December 23, 2014


+++SOURCE: Naharnet (Lebanon) 23 Dec.’14:”Israel Challenges Natural Gas
Developers over Monopoly”, Associated Press

SUBJECT:Israel’s natural gas

QUOTE:”Israels antitrust authority is challenging the ownership structure of
the country’s natural gas resources”

FULL TEXT:Israel's antitrust authority is challenging the ownership
structure of the country's natural gas resources, a decision that could
rattle an increasingly important industry.

A U.S.-Israeli conglomerate has been developing most of Israel's offshore
natural gas deposits. It sells gas to the Israeli market and has agreed to
sell to neighboring countries as well.

In an earlier understanding, the conglomerate agreed to sell two smaller gas
fields to avoid a monopoly. But the antitrust authority said Tuesday it was
scrapping that deal, seeing it as insufficient.

The authority says it is considering a new agreement, which could strip the
conglomerate of its larger, more lucrative fields.

The conglomerate says it has invested billions of dollars developing the
fields, but critics say the government has allowed it to profit excessively.

Sue Lerner - Associate, IMRA