JERUSALEM – Israel says it has reached an agreement with developers on a regulatory framework for its natural gas reserves.
The agreement comes after months of squabbling that began last year when Israel’s antitrust commissioner considered designating the American-Israeli partnership that is developing the gas a monopoly.
The deal sets a price ceiling for future sales to Israeli companies and commits the gas firms to complete the development of the country’s largest gas field, known as Leviathan, by 2020.
Israeli Prime Minister Benjamin Netanyahu welcomed the agreement at a press conference on Thursday. The deal will be brought to a Cabinet vote on Sunday.
Critics say the deal bows to the gas firms’ demands and does not do enough to protect Israeli consumers.
Related Posts
Trial opens in London for Maoist cult leader accused of raping, imprisoning followers
Nick Kyrgios, the Australian ‘wild child’ who beat Rafael Nadal at Wimbledon 2014, is loving the limelight
New York Red Bulls 1-0 DC United: Bradley Wright-Phillips winner takes Jesse Marsch’s side a step closer to maiden MLS title
China and US clash over steel imports
Why you shouldn’t use the same password or login even on frequent flier accounts
Carney feels ‘duty’ to speak on Brexit