Israel supreme court strikes down landmark gas deal

The Tamar Israeli gas-drill platform in the Mediterranean Sea off Tel Aviv -- Israel has been trying to extract offshore gas since the discovery of the Tamar and Leviathan fields in 2009 and 2010Israel’s top court on Sunday struck down a landmark deal aimed at paving the way for the exploitation of Mediterranean gas reserves, in a major defeat for Prime Minister Benjamin Netanyahu. “We have decided to cancel the gas deal because of the stability clause” that would have barred future governments from altering the deal, the justices said. Critics of the deal between the Israeli government and a consortium, including US firm Noble Energy, say it is overly favourable to the companies involved.

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