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Israel: Antitrust Commissioner resigns on natural gas policy

By  |  May 25, 2015

Israel’s antitrust commissioner has resigned after Prime Minister Binyamin Netanyahu’s government refused to end an effective monopoly on gas extracted from the Mediterranean, according to a letter made public Monday, AFP reported.

David Gilo expressed his opposition to the dominant position of US giant Noble Energy and its Israeli partner Delek to exploit gas from the Leviathan and Tamar offshore gas fields in the letter sent to Economy Minister Aryeh Deri.

His resignation, due to take effect in August, saw Delek’s share price immediately rise by more than three percent during Monday trading on the Tel Aviv Stock Exchange.

In his letter, Gilo wrote that preserving the stranglehold of Noble and Delek on the natural gas market “undermines competition, and the power of authority” of the Antitrust Authority.

 

Full content: Bloomberg

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