March 27, 2016 - 8:45 PM EDT
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Scuttled Israel gas deal frustrates US, Israeli developers

(AP) — Israeli and American energy companies controlling
natural gas say they are dissatisfied with a ruling the day before by
Supreme Court that struck down a government deal to begin pumping from offshore deposits.

David Stover, the chairman of

-based Noble Energy, said on Monday that the ruling is "disappointing."

Prime Minister Benjamin Netanyahu had emphatically supported the deal struck between his government and a consortium of gas developers as a path to Israeli energy independence and billions of dollars in revenue. Critics said the deal gave too much profit to corporations at the public's expense.

The court opposed a clause that would prevent

from making significant regulatory changes for the next ten years.

The Israeli Delek Group called Monday on the government to rework the agreement quickly.

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Source: News (March 27, 2016 - 8:45 PM EDT)

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