PM to intervene on gas royalties

Netanyahu asks Landau to expedite the “decision-making procedures in order to ensure a continuous and steady supply of natural gas to the economy.”

By ADRIAN FILUT
December 15, 2010 00:43
1 minute read.
Offshore Leviathan gas field.

leviathan gas drill. (photo credit: (Albatross))

Prime Minister Binyamin Netanyahu will intervene in the question of the settlement of the natural gas royalties issue, at the demand of National Infrastructures Minister Uzi Landau, according to information obtained by Globes.

The first meeting on the subject is scheduled for January 5, 2011. In a letter Netanyahu sent to Landau and Finance Minister Yuval Steinitz, he reiterated the demand that the Sheshinski committee stick to its original timetable. The committee is due to submit its recommendations by December 31.

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Netanyahu asked Landau to expedite the “decision-making procedures in order to ensure a continuous and steady supply of natural gas to the economy.”

“On this point, I request adherence to the timetable for the committee to complete its work, and that the work of the subcommittee on the Tamar gas field be completed at the same time as the work on committee’s recommendations.”

Netanyahu concludes by reminding Steinitz that the government is the body that will set the final policy on the royalties.

“The cabinet will discuss the issue as soon as possible, in order to formulate its policy.”

Landau and Steinitz are expected to attend the January 5 meeting, along with Governor of the Bank of Israel Prof.

Stanley Fischer in his capacity as economic advisor to the government as set out in the new Bank of Israel Law.

Representatives of oil and gas exploration and other energy companies are also expected to be present at the meeting, including Yitzhak Tshuva, who has a stake in Tamar and Leviathan through Delek Group Ltd., East Mediterranean Gas Company (EMG) shareholder Yosef Maiman, and executives from Tamar and Leviathan partner Noble Energy Inc.


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