How Israel Turned A Gas Bonanza Into An Antitrust Headache

2 Oct 2015   Israel

When the Leviathan gas field was discovered off the coast of Israel in 2010, it was pitched as a game-changer — a vast energy reserve that would transform the economy and bolster public finances for years to come. Five years on, poor policymaking, political infighting and a battle between Prime Minister Benjamin Netanyahu and the antitrust commissioner over a lack of competition mean Leviathan remains undeveloped. Meanwhile, Egypt has made a larger discovery that could make it a more attractive investment. The case sends a worrying message to investors and may make them wary of the natural resources sector in Israel, which has struggled to diversify its economy much beyond technology. Instead of billions of dollars in exports […]

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