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Israel: Energy minister: Noble, Delek must sell part of offshore gas reserves

By  |  February 3, 2015

Energy Minister Silvan Shalom said on Tuesday natural gas companies operating offshore Israel will have to sell some of their reserves to avoid being deemed a monopoly.

His comments were the most explicit to be made in public since the country’s antitrust authority said in December the US-Israeli partners who discovered two large natural gas fields in the eastern Mediterranean may constitute a monopoly.

“Part of the decision will be that the gas companies will have to give up some of the reserves they have. What can you do? It will happen,” Shalom told an energy conference in Tel Aviv. “Sadly, I don’t see a lot of new players waiting to come here.”

Shalom said the government was working to find a balance between increasing competition and ensuring Tamar and Leviathan were developed.

 

Full Content: Reuters

 

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