Is­rael to make ‘small changes’ to gas roadmap

Financial Mirror (Cyprus) - - FRONT PAGE -

Is­rael’s cab­i­net has post­poned a vote on the gas roadmap, but is ex­pected to be raised within the next two weeks, with the Min­istry of Na­tional In­fra­struc­ture, Energy and Wa­ter Re­sources say­ing that the plan was fi­nal, and any changes in it would be unim­por­tant.

The Globes busi­ness news site re­ported that Prime Min­is­ter Ben­jamin Ne­tanyahu and Min­is­ter of Na­tional In­fra­struc­ture, Energy and Wa­ter Re­sources Yu­val Steinitz are ex­pected to in­sert sev­eral changes into the roadmap cor­re­spond­ing to the public com­ments made dur­ing the ear­lier hear­ing. These in­clude the pos­si­bil­ity of link­ing the gas price to one of the global av­er­ages, prob­a­bly the av­er­age in­dex in Or­gan­i­sa­tion for Eco­nomic Co­op­er­a­tion and De­vel­op­ment (OECD) coun­tries, or re­duc­ing the price in the plan by $0.20-0.25.

Also un­der con­sid­er­a­tion is state en­cour­age­ment for the de­vel­op­ment of the small and medium-sized reser­voirs through ei­ther a state guar­an­tee for the de­vel­op­ers or par­tial or full state fi­nanc­ing for a pipeline.

Another pos­si­bil­ity is that Delek Group and Noble Energy will be told to sell the Kar­ish and Tanin reser­voirs within 14 months, or the state will sell them at any price, even $1, to bring in new play­ers and en­cour­age com­pe­ti­tion, while avoid­ing the cur­rent de­pen­dence on the gas mo­nop­oly.

Af­ter changes are made to the gas roadmap, the fi­nal ver­sion will prob­a­bly be sub­mit­ted to the min­is­ters to­wards the end of next week, and it is in­tended to hold a dis­cus­sion and vote on it the fol­low­ing Sun­day. There is still no timetable for sub­mit­ting the roadmap to the Knes­set, but there is no plan to drag out the de­ci­sion un­til af­ter the Knes­set re­cess. The Knes­set may be sum­moned for a spe­cial ses­sion in Au­gust; oth­er­wise, the roadmap will reach the Knes­set on Septem­ber 2, when a spe­cial ses­sion on the state bud­get has al­ready been sched­uled.

It is not yet clear whether ap­proval of the gas roadmap will be by the cab­i­net or the Knes­set. Knes­set ap­proval is not legally re­quired, but po­lit­i­cal sources be­lieve that in or­der to ap­pease Min­is­ter of the Econ­omy Aryeh Deri, the roadmap may nev­er­the­less be brought to the Knes­set for a vote.

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.