NBL
Posted: Wed May 18, 2016 11:46 am
JERUSALEM, May 18 (Reuters) - Israel has reached a new deal with Texas-based Noble Energy and Israel's Delek Group that will allow the firms to move forward with development of the huge Leviathan natural gas field, Israel's finance minister said on Wednesday.
The Leviathan project hit a major obstacle in March when Israel's Supreme Court blocked a previous development plan that included a stability clause binding the state to the terms of the deal for 10 years.
The new agreement gives the government more leeway to change policies if needed, Finance Minister Yuval Steinitz said in a statement.
The Leviathan project hit a major obstacle in March when Israel's Supreme Court blocked a previous development plan that included a stability clause binding the state to the terms of the deal for 10 years.
The new agreement gives the government more leeway to change policies if needed, Finance Minister Yuval Steinitz said in a statement.