BREAKING NEWS

Israeli speculators wonder about Egypt gas supply

By ASSOCIATED PRESS

FEBRUARY 3, 2011 11:05

The turmoil in Egypt has spurred an unexpected boom in Israel's nascent energy sector, as investors bet that demand for locally produced natural gas will surge because of doubts about the stability of supplies from Egypt.

"At the moment, there is the fear that there will be problems with incoming gas from Egypt," said Liat Glazer, an analyst at the Excellence-Nessuah investment house.

The latest stock frenzy follows months of excitement over the discovery of huge offshore natural gas deposits, driving energy shares to new highs — drawing warnings from regulators that a gold rush mentality could leave naive investors with painful losses.

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