The impact of Israel’s high court gas decision

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The impact of Israel’s high court gas decision
 © In-Cyprus 2018
Israel’s High Court ruled on March 27 that the gas regulatory framework deal struck between the government and Noble/Delek, partners in Israel’s Leviathan field, is illegal, as its central piece, the stability clause, is unconstitutional.

The stability clause was meant to ensure that, over a 10-year period, future governments do not enact regulatory changes in taxation, antitrust limitations and export quotas that undermine this deal. It is difficult to invest $6-7 billion in the 620 billion cubic metres (bcm) Leviathan field if the rules keep changing.

This saga started in late 2014 when the Israeli antitrust commissioner challenged the Natural Gas Outline Plan, agreed upon by the government and the Noble/Delek consortium, on the basis that the consortium constituted a monopoly.

The deal

A gas deal was subsequently agreed and officially activated on December 17, 2015 after Prime Minister Benjamin Netanyahu signed a controversial legal clause enabling the...


This article was automatically added to our system 3-4-2016

The impact of Israel’s high court gas decision


The contents of this article including any associated images are © In-Cyprus 2018
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