Netanyahu: 40% of natural gas finds to be exported

Yacimovich slams 'robbery' of resource that belongs to public; vows to take issue to High court of Justice.

June 19, 2013 17:00
PM Netanyahu announces decsion on gas exports

Netanyahu flanked by Fischer, Shalom and Lapid 370. (photo credit: Amos Ben-Gershom/GPO)

Prime Minister Binyamin Netanyahu announced Wednesday that 40 percent of Israel's natural gas reserves would be exported, 13% less than the the Zemach Committee, tasked with exploring the issue, recommended.

Netanyahu said that the 60% of natural gas preserved for domestic use would serve Israel's needs for the next 25 years.

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The prime minister added that the "gift from nature" would bring Israel $60 billion over the next 20 years, with the state receiving 60% of export revenues.

Opposition leader Shelly Yacimovich called the government's decision "a robbery of the Israeli public," and vowed to take the issue to the High Court of Justice.

"The gas reserves, which belong to all of the state's citizens, can grant the country energy independence, a dramatic drop in energy and water prices, the developing of a new industry, a great contribution to the quality of the environment, social prosperity and a great strengthening of the state's security," the Labor leader stated.

Yacimovich said the decision to give up 40% of Israel's gas reserves is an example of Netanyahu and Lapid's failure to listen to the Israeli public.

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