BREAKING NEWS

Bank of Israel: Don't restrict natural gas exports

By GLOBES

AUGUST 16, 2012 21:28

The Bank of Israel will support minimal restrictions on natural gas exports, sources informed Globes on Thursday. The central bank recently decided on its position ahead of the final report by the committee on the gas market structure, chaired by Ministry of Energy and Water Resources director general Shaul Tzemach.

The Bank of Israel's position agrees with the position of the Ministry of Finance and the National Economic Council's representatives on the Tzemach Committee. The supporters of gas exports believe that considerations of ensuring a free and sophisticated market in gas greatly outweigh greater national energy security by restricting exports.

The Bank of Israel's position is also in line with that of Prof. Eytan Sheshinski in an interview with Globes last week. The Bank of Israel has observer status on the Tzemach Committee.

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