Minister of Finance Yuval Steinitz refuses to allow Noble Energy Inc. (NYSE: NBL) and Delek Group Ltd. (TASE: DLEKG) to raise the quantity of natural gas that it exports from the Tamar and Leviathan gas fields.
Steinitz said that he was sticking to the recommendations of the Tzemach Committee and that energy independence is a most important matter for the State of Israel. He said, "I am not interested in being dependent on the gas supply from Egypt."
Top Noble Energy executives met with Steinitz after their meeting with Prime Minister Benjamin Netanyahu on Monday.
At the meeting, the Noble Energy executives made it clear to Steinitz that they were interested in raising the amount of gas exported from Tamar and Leviathan above that recommended by the Tzemach Committee. They claimed that the quality of the gas will make it very competitive on the international market.
Published by Globes, Israel business news - www.globes-online.com - on April 18, 2012
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