Israeli PM Gives Final Approval for Leviathan Gas Field Development
Thursday 17 December 2015
After years of political infighting, Israeli Prime Minister Benjamin Netanyahu signed a deal on Thursday giving final approval for the development of the Leviathan natural gas field off Israel's coast.
Despite fierce criticism from opponents who argue Israel's largest gas reserve will be controlled by one group, limiting competition, Netanyahu has pushed the deal through, describing it as critical to national security interests.
As part of the agreement, Texas-based Noble Energy and Israel's Delek Group, which discovered Leviathan in 2010, will retain control of the field, but are being forcing to sell other, smaller assets.
Source: Reuters (Reporting by Steven Scheer. Editing by Luke Baker)