Delek Group Ltd. (TASE:DLEKG), Noble Energy Inc. (NYSE: NBL) and other gas exploration companies have demanded that the State reveal details of its import tax exemption agreement with EMG, which sells Egyptian natural gas to Israel. Delek and Noble feel there may be a case for "unacceptable discrimination."

Delek and Noble Energy yesterday urgently petitioned the Jerusalem District Court to allow them to see the exemption agreement and related documents connected to the Sheshinski Committee, which was appointed by Minister of Finance Yuval Steinitz to examine fiscal policy for gas and oil exploration. The Ministry of Finance is refusing to show the documents stating that this would impede the work of the Sheshinski Committee.

Noble Energy, Delek Group units and other gas exploration companies yesterday submitted an administrative petition to the Jerusalem District Court based on the Law for Freedom of Information, requesting that the court instruct the government to let them see the documents held by the Tax Authority and the Sheshinski Committee.

Hussain Salem owns 28% of EMG, Egyptian Natural Gas Holding Company owns 10%, Thai energy giant PTT Public Co. Ltd. owns 25%, Yosef Maiman owns 20% through Ampal and his private company Merhav MNF Ltd., and Israeli institutional investors own 4.4%.

"Globes" revealed last month that the government had given EMG a 20 year exemption on import taxes.

Published by Globes, Israel business news - www.globes-online.com - on August 17, 2010

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