JERUSALEM
— Israeli Prime Minister Prime Minister
Benjamin Netanyahu is making an unprecedented appearance at the
Supreme Court to defend a deal signed in December with
U.S.
and Israeli developers drilling offshore gas deposits.
Israel's
Channel 10 TV reported Netanyahu as telling the court Sunday that if
Israel
were to alter its deal investors could turn to buy gas from
Israel's
enemies instead.
Resource-poor
Israel
announced the discovery of sizeable offshore natural gas deposits about five years ago, and a partnership of Israeli and
U.S.
companies began extracting gas. After the country's antitrust commissioner determined the gas companies' ownership constituted a monopoly, a government committee reached a deal with the firms to introduce competition.
Opponents challenged the deal in court because they say it favours the developers over the Israeli public.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer
Source: Equities.com News
(February 14, 2016 - 12:30 AM EST)
News by QuoteMedia
www.quotemedia.com
