An Israeli parliamentary committee refused to give its blessing Monday to a natural gas deal aimed at tapping a huge field in the Mediterranean despite a strong push by Prime Minister Benjamin Netanyahu.
The 7-6 vote against the deal by the Knesset’s economics committee was however non-binding and Netanyahu is expected to seek to move ahead anyway, with a court battle likely to result.
Committee spokesman Lior Rotem told AFP the vote was against Netanyahu’s plan to bypass usual antitrust oversight, on the grounds of diplomatic and security needs.
“It’s a recommendation,” he said. “The government is not obliged to accept this recommendation.”
Opponents of the proposed deal to pump and pipe natural gas reserves from the Mediterranean say it will create a monopoly for a consortium that includes US company Noble Energy.
Full content: Quartz
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI