Financial Education

Financial Education
Judge Hila Gerstel selected first critic of the prosecution
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Companies Dor Gas Exploration and ISRAMCO appealed yesterday (e) Court of Justice to require the state to change the decision to export up to 40% of the volume of gas reserves were discovered, and increase the quota threshold of 50% of the stock. Petition asycuda was filed against the government and Prime Minister as well as energy line gas companies operating in Israel, including Noble Energy, Delek Energy, Delek Drilling and intelligence.
Petitioners contend that the government's ruling late June does not translate correctly the language of the law of oil and creates apparent discrimination between them and other companies. Recall asycuda ISRAMCO and gas generation together hold 32.75% of gas from the "Tamar" asycuda (4% gas generation, the rest ISRAMCO), and planned along with its other partners - Noble Energy, Delek Drilling and Avner - gas export to the Far East.
Tamar Photo: Albatross exports Tamar Project "memorandum of understanding was signed nine months asycuda ago last February in front of the Russian Gazprom and Daewoo of Korea. The essence of the project was Tamar "could export about 85 billion cubic meters of natural gas to foreign customers while creating a floating export facility (FLNG). Export should be made for 20 years, where Daewoo is building the facility exports, and Gazprom is responsible for finding foreign customers purchase gas. Nevertheless, the government's decision to limit the total Israeli exports to 40% of the deposits asycuda left the export quota limit Tamar "only at about 50 billion cubic meters, which effectively canceled the entire project.
To share ISRAMCO with "maintenance" Tamar "have already asycuda pledged, subject to various conditions, to sell close to 170 BCM (billion cubic meters - Lag) the quantity of gas from the Israeli market," petitioners argue, and sharpen Meaning that is, teaching government allows buffer "Tamar" export only up to 20% contrast, general arrangement which excluded the reservoir, which applies to all competitors, "says ISRAMCO and gas generation. The bottom line: "The percentage of gas could pool" Tamar "export is thus less than half the percentage of gas allowed asycuda buffer" whale "export (although reservoir" whale "much larger), and even a little more than the percentage asycuda allowed other repositories export quantity of the gas in which ", leading to the conclusion that the petitioners to change the government decision to export more gas from Israel.
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