By Calev Ben-David
The Israeli cabinet approved a regulatory blueprint for developing the country’s natural gas fields, backed by Prime Minister Benjamin Netanyahu and opposed by detractors who call it overly generous to energy companies.
Ministers approved the outline by a vote of 17-1. The framework will now go for a final vote to parliament, where Netanyahu’s coalition holds a one-seat majority.
The government says the arrangement will attract new investors to explore and develop offshore fields, speed exports to regional neighbors including Jordan and Egypt, and pump billions of shekels of taxes and royalties into the economy.
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