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  • Israel supreme court strikes down landmark gas deal (Bibi "mystified")

    03/27/2016 11:23:09 AM PDT · by E. Pluribus Unum · 9 replies
    Yahoo ^ | March 27, 2016 | AFP
    Jerusalem (AFP) - Israel's top court on Sunday struck down a landmark deal regulating exploitation of Mediterranean gas reserves, in a major defeat for Prime Minister Benjamin Netanyahu who called the ruling "mystifying". A panel of Supreme Court justices said in their ruling that a clause in the plan that prevented it from being changed for a decade was unacceptable. "We have decided to cancel the gas deal because of the stability clause" that would have barred future governments from altering the deal, they said. The court however suspended the ruling for a year to enable the parliament to amend...
  • Israel’s Game Changing Gas Discovery Dealt Another Blow

    03/28/2016 2:48:14 PM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 28-03-2016
    The massive Leviathan gas field was discovered in Israel’s offshore Levant Basin over six years ago, and while it theoretically puts Israel on the global energy map for the first time and could change the geopolitical dynamics of the entire Middle East, the Israelis themselves seem to be doing everything in their power to keep it from coming online. Its owners—U.S.-based Noble Energy and Israeli partner Delek Group—along with their shareholders are probably wondering if gas is ever going to come out of this giant of giants. At stake is a massive gas field worth $5-$6 billion and believed to...