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      Archive: 6/19/2013
      17:15
      Reported

      News Brief

        6/19/2013, Tammuz 11, 5773

      60% of Israeli Natural Gas to Stay in Israel


      Prime Minister Benyamin Netanyahu and government ministers held on Wednesday a special press conference to discuss the newly opened natural gas fields off the coast of Haifa. In a tentative arrangement, 60% of the gas will be maintained for the Israeli economy and 40% will be sold abroad. Prime Minister Netanyahu said, "we have to balance our own need for natural gas and the desire to realize the gas revenue. Within 20 years we can receive $60 billion from royalties on exports," he estimated.

      Finance Minister Yair Lapid stated, "the gas is nothing short of miraculous."