Minister: Egypt gas find a wake-up call

Energy Minister Yuval Steinitz says Egypt’s major gas find should be a wake-up call for Israel to finalize the terms of its looming agreement with a consortium of gas companies that’s poised to develop Israel’s own sizable offshore reserves.

Referring to the ongoing dispute that has pushed off the signing of the deal, Steinitz states, “The finding of the massive gas field in Egypt is a painful reminder that while Israel sleepwalks and dallies with the final approval for the gas road map, and delays further prospecting, the world is changing in front of us, including ramifications for export options.

“We must pass the gas road map and forward the Israeli gas industry,” he adds.

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