Published On: Sun, Nov 1st, 2015

Israel’s Long-Stalled Gas Plan Extricated From Impasse

Netanyahu to take over economy ministry from Aryeh Deri; Tel Aviv Energy Shares Rise as Gas Companies Stand to Benefit

Leviathan natural gas reservoir
The major obstacle to developing Israel’s natural-gas fields was swept away on Sunday when a cabinet minister who had held up the plan for months agreed to resign.

The Tel Aviv gas shares rallied the most in a week on the news, advancing 3.1 percent at 12:18 p.m., the biggest increase since Oct. 25. Economy Minister Aryeh Deri, whose Shas party represents a working class constituency, had refused to exercise an emergency regulation that would have permitted the government’s proposed natural gas blueprint to move ahead despite opposition from the Antitrust Authority.

Read the full story at Bloomberg, by Calev Ben-David

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