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Israel: Cabinet Approves Transfer to Itself of the Economy Minister’s Authority

Under Article 52 of the Restrictive Trade Practices Act

 Netanyahu and Kahlon

At its weekly meeting on Sunday, the Israeli Cabinet approved transferring the Economy Minister’s authority under Article 52 of the 1988 Restrictive Trade Practices Act to itself, regarding actions necessary to increase the quantity of natural gas produced at the Tamar field and to quickly develop the Leviathan, Krish, Tanin, and other natural gas fields.

Prime Minister Benjamin Netanyahu’s remarks at the start of the Cabinet meeting were clear:

Last week, the Cabinet unanimously approved the expedited development and expansion of the natural gas fields that have been discovered off Israel’s coast. I am determined to advance a realistic solution that will bring gas to the Israeli economy. I will not capitulate to populist proposals that will leave the gas deep underground. We have already seen enough countries that succumbed to these pressures and the gas has remained in the ground. This cannot be allowed to happen here. The outline that has been formulated breaks up the monopoly.

“In the coming decades it will put hundreds of billions of shekels into education, culture, health and many other things for the benefit of all Israeli citizens. After years of discussions, the time has come to decide so that the gas will emerge from the ground and reach the Israeli economy and the citizens of Israel.”

The foregoing decision is to transfer the aforementioned authority from the economy minister to the full Cabinet and does not constitute approval of this or that outline. In the coming days, the outline will be submitted for public comment,  subsequently followed by Cabinet discussion.

 

 

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