JERUSALEM
(AP) — Israeli and American energy companies controlling
Israel's
natural gas say they are dissatisfied with a ruling the day before by
Israel's
Supreme Court that struck down a government deal to begin pumping from offshore deposits.
David Stover, the chairman of
Houston
-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
Israel
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: Equities.com News
(March 27, 2016 - 8:45 PM EDT)
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