"All Israelis will profit from gas exports"

Finance Minister Yair Lapid has said that gas exports will benefit education and welfare, and lower the cost of living.

In the wake of yesterday's decision on the fate of Israel's gas reserves, Minister of Finance Yair Lapid has said he is proud of the proposal to be put to the cabinet on Sunday that 40% of natural gas will be exported.

He said, "This is a day of celebration for the State of Israel. A miracle has happened to us. This will help education, welfare and to lower the cost of living."

Lapid added, "There is enough gas for almost 30 years. We will have here all the gas that we need and all the gas that we don't need. Isn't it more logical to sell it and earn billions of dollars? All Israeli citizens will profit from this decision."

Lapid also addressed the comment of the opposition leader and Labor party chair Shelly Yachimovich who attacked yesterday's decision. "It would be interesting to know when she had the time to study the issue so seriously. She could have been sitting here instead of me as finance minister. Some people evade responsibility and some people take responsibility."

"The decision that was taken was virtually identical with the minority opinion of the Tzemach committee. Then we said that we would take 'wider margins' just to be on the safe side that there will be enough gas for the next 30 years. It would be stupid not to earn money for the State of Israel."

Published by Globes [online], Israel business news - www.globes-online.com - on June 20, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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