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Development of Israel’s 22tcf Leviathan gas field moved a step closer to reality this week as the country’s Antitrust Commissioner David Gilo tendered his resignation.
In December last year, Mr Gilo ruled that US-firm Noble and its partner offshore Israel, the Tel-Aviv based Delek Group, would need to sell off their stakes in either Leviathan or Israel’s other giant gas field, 10tcf Tamar, which they also operate.
Months of discussions on reaching a compromise were unsuccessful but, as reported by MEES on 15 May, a new proposed structure – strongly opposed by Mr Gilo – was favored by officials in Benyamin Netanyahu’s newly formed government. This new position, which essentially prioritizes development over breaking up the perceived monopoly, was formally approved following the appointment of Yuval Steinitz as the new Energy Minister on 21 May. This did not sit well with Mr Gilo, who this week handed in his resignation in protest. (CONTINUED - 842 WORDS)
DATA INSIDE THIS ARTICLE
|table||Noble & Delek Israel Gas Field Stakes*|