REUTERS
Insight – How Israel turned a gas bonanza into an antitrust headache
by Steven Scheer
October 1, 2015

When the Leviathan gas field was discovered off the coast of Israel in 2010, it was pitched as a game-changer — a vast energy reserve that would transform the economy and bolster public finances for years to come. Five years on, poor policymaking, political infighting and a battle between Prime Minister Benjamin Netanyahu and the antitrust commissioner over a lack of competition mean Leviathan remains undeveloped. Meanwhile, Egypt has made a larger discovery that could make it a more attractive investment. The case sends a worrying message to investors and may make them wary of the natural resources sector in Israel, which has struggled to diversify its economy much beyond technology. READ MORE