Netanyahu: Natural Gas exports to yield $60 billion in revenue over 20 years

 

Israel stands to become one of the world’s top-25 gas exporters. PM Netanyahu says Israel will export 40% of its natural gas, keeping 60% for domestic use.

Opposition Leader Yachimovich: Bill is a shameful capitulation to the tycoons, a major blow to Israel’s economy.

By Zeev Klein, Hezi Sternlicht, Reuters and Israel Hayom Staff

 

Prime Minister Benjamin Netanyahu announced Wednesday that Israel will keep 60 percent of the natural gas it harvests from its offshore gas fields for domestic use, setting export levels at 40%. The cabinet will vote on a bill to that effect next week.

Tamar offshore gas field – Photo: Albatross

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