Israel’s anti-monopoly regulator is set to step down later this year – a move which could ease pressure on exploration companies in the region.
Antitrust Commissioner David Gilo had been pushing to open the energy sector to competition.
Last year he caused a stir when he ruled that both Noble and Delek may constitute a monopoly over their control of two large natural gas fields Tamar and Leviathan.
According to reports, Gilo claimed he was resigning because the government was pushing for a deal to speed up development of the gas field at the expense of new competition.
Both Noble and Delek have been negotiating with the government to find a solution over which assets they would have to sell off.
He said:”The government, especially the prime minister’s office and Finance and Energy Ministries, will do everything they can to promote the outline that is being drafted for the natural gas market – an outline I am convinced will not bring competition in this important market.”
Noble and Delek own 85% of Leviathan, which has with an estimated 22 trillion cubic feet (622 billion cubic metres) of reserves.
Production had been expected to begin in 2018 following an initial investment in the development of around $6.5 billion.
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