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      Archive: 5/20/2013
      09:18
      Reported

      News Brief

        5/20/2013, Sivan 11, 5773

      Gas Co. Owner: Exporting Gas Worth $1 Billion to State


      Yitzchak Teshuva (Isaac Sharon), who owns controlling interest in the Delek Group - franchise holder for Israel's Mediterranean natural gas - said, Sunday, "Especially in these times it is important to remember that exporting gas alone would bring to the state about $ 100 billion in the next 20 years." Teeshuva was speaking at the Bank Hamizrachi-Tephachot's annual conference, following a stormy Saturday night demonstration in front of his home by those who feel the gas should be used domestically to keep Israel supplied and to lower energy costs.

      Teshuva also said, "the Government should encourage those engaged in the exploration of gas in Israel and ensure that additional companies, local and international, enter the sector. The more players, the more drilling. It is important to remember that tax revenues in the gas sector, taxes and royalties, have been set at about 60 percent and the Israeli public and state coffers are the principal profitters from the successes in this field."