Gilo postpones Israel gas monopoly decision until April

David Gilo

The Antitrust Authority will not decide on the Leviathan and Tamar gas fields until after the new government is formed.

Antitrust Authority director general Prof. David Gilo has postponed his decision on the issue of an agreement in restraint of trade in the natural gas sector until well after the new government is formed, probably in April.

He is postponing his decision in the matter for two months "in view of the efforts by government ministries and the parties' willingness to seek a solution to the problem of competition on the basis of the government proposal."

Joint work teams are currently working on a consensual solution to the crisis.

The shares of the gas partners traded on the TASE - Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L), and Ratio Oil Exploration (1992) LP (TASE:RATI.L) fell sharply after the announcement.

Various government ministries together with the Antitrust Authority had proposed a compromise, which would have involved Delek selling its rights in Tamar, Karish and Tanin, and Noble Energy Inc. (NYSE: NBL) selling part of its rights in those fields, with limitations imposed on its Israeli marketing of gas. But Delek and Noble rejected the compromise.

Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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