Israel Prime Minister Benjamin Netanyahu to Possibly Create Law for Leviathan Deal to Happen
Feb 15, 2016 05:26 AM EST
Israel's Prime Minister Benjamin Netanyahu testified on court Sunday about the deal he created related to natural gas monopoly. He defended the said deal and said it is needed so the country will continue moving forward. However, High Court of Justice said he needs to make a new law to pass all clauses in the deal.
The Supreme Court did not give a ruling yet as they wanted the legislative to think about passing a law regarding the stability clause. According to Haaretz, Justice Elyakim Rubinstein said before the court that Prime Minister Netanyahu will have to make an exclusive law to perform every part of the deal. There is one part that caught the justice's attention because it is impossible to do without a specific law. The stability clause states that in ten to fifteen years there will be no changes to be made in tax policies and export rules related to the gas industries. Attorney Efi Michaeli, a law professor, together with the petitioners was happy that the court decided like this.
There were many people against this deal like the Anti-Trust Authority. Nevertheless, Prime Minister Benjamin Netanyahu said to the court that the Leviathan Deal will bring billions of dollars in export. Reuters reported that the prime minister said it will not only bring financial security but also safety. The deal is that Leviathan owner Texas-based Noble Energy and Israel's Delek Group will build the project.
Middle East Eye stated that the Prime Minister himself was the one who wanted to present him to the court. He said that this plan will cultivates competition, development and investment. If the deal won't be pushed through it will definitely cause long-tem damage to Israel.
The Leviathan project will cost $6 billion. It will provide gas to Egypt and Jordan. It might also possibly start to supply gas in some parts of Europe and Turkey if deals turn ok. The project, if Supreme Court will permit, will start in 2020.