Netanyahu: 60 percent of Mediterranean gas stays in Israel

Prime Minister Binyamin Netanyahu settled the long controversy over the disposition of the Israeli Mediterranean gas bonanza with a decision to put before the government a plan to retain 60 percent for domestic use and export the rest. He announced this at a joint news conference with Energy Minister Silvan Shalom, Finance Minister Yair Lapid and Bank of Israel Governor Stanley Fischer. They calculated that Israel stands to earn $60 billion in the next 20 years from gas royalties. This revenue he said would improve the average Israeli’s financial circumstances.  

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