New Israeli Government Tasked To Revive Israel’s Offshore Activities

A late-2014 anti-trust ruling will be top of any new Israeli government’s in-tray. Regulatory uncertainty has stalled gas development. None of the five offshore wells that were planned for this year is likely to go ahead, whilst a halt in investment by key firm Noble will likely see Leviathan gas pushed back to 2020.

Benyamin Netanyahu looks likely to continue as Israeli prime minister after his Likud party emerged as the largest in the country’s 17 March elections. But the exact composition of his government may not be known for weeks. What is for sure, however, is that whoever is chosen as the new energy minister, will face a daunting task. (CONTINUED - 1294 WORDS)