Israel’s Antitrust Authority has been approached with a request for cartel exemption by the Israeli partners of oil giant Leviathan; reports say the exemption would simplify sale rights from the reservoir to Woodside Petroleum Ltd., based in Australia. Avner Oil and Gas LP and Delek Drilling LP, as well as Ratio Oil Exploration, have all requested the exemption. Woodside announced last year it would buy a 30 percent take in Leviathan for $1.25 billion and made clear its intentions to use the acquisition to increase exports of liquefied natural gas to the Far East. Since, reports have emerged that the director general of the Antitrust Authority, David Gilo, would declare the partnership between Leviathan and Israel’s gas market a cartel. According to reports, Leviathan’s exemption request suggests even more so that Gilo will declare the existence of a cartel. The reservoir’s value is estimated to be about $5 billion since a large discovery of natural gas in 2010.
Full Content: Globes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Healthcare Antitrust
May 31, 2024 by
CPI
AI and Antitrust Considerations in U.S. Health Care
May 31, 2024 by
CPI
Uncertainty in the Bottom Line: New Antitrust Scrutiny and Enforcement in Private Equity Transactions
May 31, 2024 by
CPI
Effecting M&A Diligence When Competitors Are Involved
May 31, 2024 by
CPI
AI, Pharmaceutical Sector, and EU Competition Law and Policy: What Does the Future Look Like?
May 31, 2024 by
CPI