Jerusalem - Israeli Prime Minister Benjamin Netanyahu made an unprecedented appearance at the Supreme Court Sunday to defend a deal signed in December with U.S. and Israeli developers drilling offshore gas deposits.
Israel’s Channel 10 TV reported Netanyahu as telling the court that if Israel were to alter its deal investors could turn away and buy gas from Israel’s enemies instead.
Netanyahu said he chose to speak in court because of the strategic importance of the gas deal, which he says will allow Israel to develop ties with Jordan, Egypt and Turkey and significantly boost its economy.
Resource-poor Israel announced the discovery of sizeable offshore natural gas deposits about five years ago. A partnership between Noble Energy and Delek Group, which is led by billionaire Yitzhak Tshuva, is the main developer at Israel’s two larger gas fields, Tamar and the heftier Leviathan. After the country’s antitrust commissioner determined the gas companies’ ownership constituted a monopoly, a government committee reached a deal with the firms to introduce competition.... Read More: VIN