Mr. Steinitz, the energy minister, estimates that Israeli waters could hold 75 trillion cubic feet of gas. “We are not selling garbage here,” said Nati Birenboim of the Tamuz Group, based in Tel Aviv, which advises investors on Israeli energy projects. Both BP and the Italian company ENI have multibillion-dollar gas projects underway in Egypt. The government also wants to expand the field of players in the industry, which is now dominated by Noble Energy, a midsize American company. The company and the government reached a settlement last year that involved reducing some of Noble’s stakes in Israeli gas fields.

Source: New York Times September 01, 2016 19:12 UTC