HomeMagazine2016March 2016, Vol. 243, No. 3Scuttled Israel Gas Deal Frustrates US, Israeli Developers

March 2016, Vol. 243, No. 3

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Scuttled Israel Gas Deal Frustrates US, Israeli Developers

JERUSALEM (AP) — Israeli and American energy companies expressed disappointment on Monday over Israel’s Supreme Court decision that struck down a government deal that would have given them the rights to begin pumping natural gas from offshore deposits. David Stover, the chairman of Houston-based Noble Energy, said the ruling was “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, new regional alliances and billions of dollars in revenue. Critics said the deal gave too much profit to corporations at the public’s expense. The c

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